The spread of Covid-19 around the world has been a horror movie for the industry and the fresh wave of infections is the latest instalment in what’s been a devastating story for cinema chains.”, She added: “The new jobs support scheme, which will subsidise wages of part-time workers, will provide no lifeline for the 5,500 Cineworld UK employees who will lose their jobs this week and many others across the industry are facing a bleak winter on jobseekers benefit, while they begin the difficult search for new positions in the run-up to Christmas.”, When you subscribe we will use the information you provide to send you these newsletters. “In turn, without these new releases, Cineworld cannot provide customers in both the US and the UK – the company’s primary markets – with the breadth of strong commercial films necessary for them to consider coming back to theatres against the backdrop of Covid-19.”. The entertainment industry has been among the heaviest hit by social distancing and other restrictions, with Walt Disney DIS.N last week announcing plans to lay off roughly 28,000 employees, mostly at its U.S. theme parks. All Cineworld cinemas will close from Thursday, Never miss a thing from across Yorkshire! Financial News Articles for Cineworld Group Plc Ord 1P updated throughout the day. When approached by the BBC, major UK chains Vue and Odeon refused to comment on how many cinemas they might be keeping open. The key, he said, is that authorities must allow theaters to open in New York and more widely in California. The film industry had hoped the release of No Time To Die would spark a movie-going revival in the UK, with so many cinemas having been mothballed for months following the Covid-19 lockdown in March. Chief executive Mooky Greidinger said: “This is not a decision we made lightly, and we did everything in our power to support safe and sustainable reopenings in all of our markets.”. These are external links and will open in a new window. last week announcing plans to lay off roughly 28,000 employees, mostly at its U.S. theme parks. He said he saw mid-December as the “best-case scenario” for reopening but acknowledged it could be later. Financial News Articles for Cineworld Group Plc Ord 1P updated throughout the day. Vue chief executive Tim Richards said the cinema chain will try to prevent any lay-offs but that it is suffering from the “big blow” of a lack of new major movie releases. It also says cinemas should introduce one-way flow through auditoriums, and provide floor markings and signage to remind customers to "follow social distancing wherever possible.". “Although the delay of the latest 007 blockbuster prompted the decision, Bond isn’t the villain in this piece,” Hargreaves Lansdown analyst Susannah Streeter said. Britain has slid into a fresh round of lockdowns and tightened social restrictions in the past month. Want an ad-free experience?Subscribe to Independent Premium. “Our problem right now is we have no movies. Overall around 45,000 employees are affected in both countries, as 536 Regal theatres in the US will shut down because of the decision. "There has been no consultation with staff whatsoever.". His statement comes after rival chain Cineworld revealed it will close all its cinemas in the Uk and the US. Cineworld is reportedly set to close all its 128 cinemas in the UK and Ireland. "Once a decision has been made we will update all staff and customers as soon as we can.". Sources familiar with the discussions told The Sunday Times that Cineworld could close all its UK sites as early as this week, putting 5,500 jobs at risk. The group loss this year also marked a huge fall from the pre-tax profits of $139.7m seen in the first six months of 2019. While some cinemas in China, the world’s second-largest movie market, have reopened, they too are hurt by a scarcity of major movies to draw consumers to watch on the big screen.
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Our. Studios have chosen to release some of this year’s planned blockbusters on Netflix or the Disney+ streaming platform and have delayed others until 2021. Phil Clapp said: "Although cinemas opened in July and have been able to deliver a safe and enjoyable experience, without major new titles then we understand we aren't able to get as many people out of the home as we'd like.". Cineworld is the world's second largest cinema operator, and the largest in the UK with 120 sites. Bosses will be very worried about the firm’s future.”. “We came into this as a very strong industry; we just need to make it through the next three or four months where there are no movies.”. He added: "Landlords to date have acted reasonably and the deferral of rent has helped the cinema industry, but that comes to an end as does furlough payments so the operators will have to seek remedies to restructure their businesses.". Cineworld Cinemas is a leading UK multiplex cinema chain and the best way to watch a movie. Cineworld said up to 45,000 employees will be affected worldwide as it confirmed plans to temporarily close its theatres in the UK and the US – the cinema giant’s two biggest markets. “We’ve tried to retain all of our jobs for the 5,500 employees we have in the UK and that’s still our goal. The UK's biggest cinema chains have today announced the closure of more than 150 sites, laying bare the toll of the coronavirus pandemic. Cineworld's sites in the US, where it operates 546 theatres, could also be forced to close. "Meanwhile, customer confidence in visiting cinemas has to be restored and I don't see that at the moment," Mr Arthur added. It has been a catastrophic, devastating, year for operators.". Teachers' Day 2020 - Google Doodle celebrates schooling, Cineworld confirms it is closing all UK and US cinemas, England could see tough new 'traffic light' lockdown imposed, Pub fined for 70-person wedding party that lasted past midnight, 4 more dead, 2,145 new cases, and infection rates rocketing: The key stats for every town and city in Yorkshire, There has been a huge spike in coronavirus cases and infection rates, Every child may have to self-isolate over the coming weeks, warns council health chiefs, Calderdale health chiefs said it has to be expected due to the spread of the virus and is not a reflection on any school, Residents' horror as 'rat shrine' is found on Sheffield's troubled 'Jeremy Kyle' estate, The top ten Covid hotspots across South Yorkshire, The majority of the highest figures can be seen in Sheffield, The top ten Covid hotspots in locked down West Yorkshire, They are split between just two cities in the county, Sheffield health boss warns local lockdown is inevitable after Government's test and trace blunder, Greg Fell said he believes it is a matter of 'when' not 'if' Sheffield is placed under local lockdown measures, Live coronavirus updates for Yorkshire as infection rates almost triple in some places, Sheffield and Leeds saw the biggest increases as the testing data scandal unfolded, Husband's praise for Doncaster hospital trust after wife's 'cotton wool ears' turned out to be rare cancer, Emma's symptoms were a rare form of cancer, Half of private renters 'did not feel safe' in their homes during lockdown, A quarter of private renters said their overall housing situation made lockdown harder to cope with, and their mental health had worsened, Why York is not on the coronavirus watch list - despite having more cases than places that are, The city has a higher proportion of confirmed Covid cases than many English areas that are now facing tighter restrictions, Transfer deadline day recap: Raphinha signs for Leeds, Zohore complication, Green to Wednesday, Karlan Grant latest, The latest transfer ins and outs on deadline day involving Sheffield United, Sheffield Wednesday, Huddersfield Town and Leeds United, Phillip Schofield 'shamed' by Spin To Win winner after he 'refused to sign autograph', This Morning fans were stunned by Phil's antics which he was keen to make up for, Another blow to Huddersfield Town hopes of Premier League switch for Terence Kongolo, Fulham and Sheffield United were both reportedly interested in the defender, Why Sheffield Wednesday are prepared to bide time on Kenneth Zohore despite transfer deadline.
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