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Added on the 28/06/2022 12:57:28 - Copyright : Euronews EN
The crew of the film "Armageddon Time" by American director James Gray, including American actress Anne Hathaway and American actor Jeremy Strong, walk the red carpet at the 75th Cannes Film Festival. IMAGES
The Wall Street Journal reports that Regal Entertainment Group is likely to close all of its US locations. According to Business Insider the company was ravaged as the coronavirus pandemic continues to wreak havoc on movie releases. Chris Nolan's "Tenet" fueled the reopening of hundreds of theaters around the US. However, studios postponed the release of several blockbusters, like the latest James Bond film "No Time To Die" Regal began reopening theaters in August. It may shutter its more than 500 locations around the country amid low turnout. Regal's plan aren't set in stone. Sources familiar with the matter said a final decision could arrive Monday or Tuesday.
Regal Cinemas owner Cineworld says it is considering temporarily closing its theaters. CNN reports the news comes just a day after the latest James Bond film, "No Time to Die," was delayed until the spring of 2021. More than a dozen major films have either been delayed or skipped theaters altogether and gone digital, as in the case of Disney's 'Mulan.' Last month, Cineworld reported a loss of $1.6 billion in the first half of 2020 as revenue plunged by 67%. A spokesperson said Cineworld would update staff and customers on its decision 'as soon as we can.' It also warned of the need to raise more funds in case a second wave of coronavirus leads to more 'prolonged' shutdowns.
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