Cineworld Shuts Theaters on Film Delays, Risking 45,000 Jobs
- Move affects Regal, Cineworld and Picturehouse chains
- Closures raise pressure on company to raise additional funds
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Cineworld Group Plc said it will temporarily suspend operations at all its American and British movie theaters now that crucial income from winter blockbusters has been pushed into 2021 by the coronavirus pandemic.
The world’s second-biggest cinema chain will on Thursday close its 536 Regal theaters in the U.S. and its 127 British locations, including the Picturehouse brand, affecting about 45,000 employees, the company said in a statement Monday.