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Cineworld will temporarily close its movie theaters in the US and UK this week, leaving as many as 45,000 workers unemployed.
The company said the reluctance of studios to proceed with major releases such as the new James Bond film forced them to close all 536 Regal theaters in the US and 127 Cineworld and Picturehouse theaters in the UK beginning Oct. 8.
The announcement not only affects Cineworld's employees but also thousands of ancillary staff, such as cleaners and security guards.
Cineworld Chief Executive Mooky Greidinger said he sees mid-December as a possible time to reopen but admitted it could be later.
He said that the key is for authorities to allow theaters to open in New York and California as studios will not release major films without those markets.
Theaters need to get a lineup of films slated for six to eight weeks after the release of Wonder Woman 1984 on Christmas.
Greidinger said they would not take the risk of reopening again without movies to show n the longterm.
Cineworld began reopening in July after the easing of virus-related restrictions but the postponement of such releases as the James Bond flick No Time To Die and Marvel’s Black Widow have kept the cinema from attracting customers.
