Cineworld, the world’s second-biggest cinema chain, closed its U.S. and U.K. movie theater locations last week, a huge blow to the entertainment industry. According to CNBC, the move left as many as 45,000 workers unemployed.
The company said the reluctance of studios to go ahead with major releases such as the new James Bond film left it no choice but to close all 536 Regal locations in the U.S. (not all of which had actually reopened yet) and its 127 Cineworld and Picturehouse theaters in the U.K.
The decision was effective as of Oct. 8, and CEO Mooky Greidinger anticipates possibly reopening for the holiday season, saying specifically that operations might resume in “two months, or a bit longer.” The superhero sequel Wonder Woman 1984 is set for a Christmas Day release.
