Related MidJersey.News story here: Cineworld Owner Of Regal Cinemas Could Temporarily Shutter Operations In The US And UK
October 5, 2020
HAMILTON TOWNSHIP, NJ (MERCER)–In an update to a story MidJersey.News posted yesterday, Cineworld the parent company of Regal Cinemas had confirmed at 7:00 this morning that there will be temporary closing of 536 Regal Cinemas in the U.S. due to COVID-19. This will include several theaters in New Jersey.
The company said in a press release:
In response to an increasingly challenging theatrical landscape and sustained key market closures due to the COVID-19 pandemic, Cineworld confirms that it will be temporarily suspending operations at all of its 536 Regal theatres in the US and its 127 Cineworld and Picturehouse theatres in the UK from Thursday, 8 October 2020.
As major US. markets, mainly New York, remained closed and without guidance on reopening timing, studios have been reluctant to release their pipeline of new films. 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. These closures will impact approximately 45,000 employees. Cineworld will continue to monitor the situation closely and will communicate any future plans to resume operations in these markets at the appropriate time, when key markets have more concrete guidance on their reopening status and, in turn, studios are able to bring their pipeline of major releases back to the big screen.
Cineworld’s main priorities remain the safety of customers and employees, cash preservation and cost reduction. As noted in its Interim Results announced on 24 September 2020, Cineworld is assessing several sources of additional liquidity and all liquidity raising options are being considered.
Mooky Greidinger, CEO of Cineworld, commented: “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 – including meeting, and often exceeding, local health and safety guidelines in our theatres and working constructively with regulators and industry bodies to restore public confidence in our industry. We are especially grateful for and proud of the hard work our employees put in to adapt our theatres to the new protocols and cannot underscore enough how difficult this decision was, Cineworld will continue to monitor the situation closely and will communicate any future plans to resume operations in these markets at the appropriate time, when key markets have more concrete guidance on their reopening status and, in turn, studios are able to bring their pipeline of major releases back to the big screen.”
Regal Cinemas in MidJersey.News coverage area are:
Regal Commerce Center & RPX 2399 US-1, North Brunswick Township, NJ 08902
Regal Independence Plaza & RPX 2465 S Broad St, Hamilton Township, NJ 08610
Regal Burlington 250 Bromley Blvd, Burlington Township, NJ 08016
We can confirm we are considering the temporary closure of our U.K. and US cinemas, but a final decision has not yet been reached. Once a decision has been made we will update all staff and customers as soon as we can.
— Cineworld Cinemas (@cineworld) October 4, 2020
The exterior of the Regal Cinemas 12 in Hamilton Township, Mercer County, NJ on October 4, 2020. Photos by: Tyler Eckel
Regal Cinemas 12 & RPX, Independence Plaza, Hamilton Township Mercer County on October 4, 2020
