“But at a certain stage, we didn’t have the goods.” The Israeli executive blames American politicians like New York Governor Andrew Cuomo, who hasn’t reopened the crucial New York cinema market — a contributing factor discouraging studios from releasing their tentpoles. They closed in mid-March due to the pandemic, and reopened where they could just prior to the Warner Bros release of Tenet in early September. Read Next: AFI Awards 2020 Set for Feb. 26, Cineworld Employees Hit Out at Unfair Treatment: ‘They Made Us Feel So Expendable’, Johnny Flynn Heist Musical ‘The Score’ Wraps Production After COVID-19 Shoot (EXCLUSIVE), TCB Media Rights Founders Set Up Distribution, Co-Production Outfit BossaNova Media (EXCLUSIVE), temporarily shutter all U.K. and U.S. cinemas, AMC Theatres-backed Odeon has reduced its screens, Thomas Jefferson Byrd, Actor in Spike Lee Films, Killed in Atlanta, ‘Saturday Night Live’ Starts Season 46 With Alec Baldwin and Jim Carrey Recreating the Presidential Debate, Led Zeppelin Wins 'Stairway to Heaven' Copyright Battle as Supreme Court Refuses to Hear Case, Why ‘Tenet’ Was the Wrong Movie at the Wrong Time (Column), ‘The Witcher’ Season 2 Gets First Look at Henry Cavill’s New Armor, ‘Mean Girls’ Cast Reunites After 16 Years to Encourage Voting, ‘Schitt’s Creek’ Season 6 Arrives Early to Netflix, Cineworld Could Close All Regal Cinemas, U.K. The same source reported that Cineworld would close down 128 of its UK and Ireland cinemas as well next week, representing the first big casualty in the industry since cinemas began to reopen in late summer. Thanks!
Mooky has left the company with no money and we’re the ones paying for his poor judgement.”. It would have sustained the business,” says Hamish Moseley, managing director of Altitude Film Distribution, which put out Russell Crowe thriller “Unhinged” in late July. Morale been low since March, they say, when just days after shuttering due to government COVID-19 advice, Cineworld informed a large number of front-of-house staff they would be laid off, only to quickly backtrack when a furlough scheme was introduced. You can unsubscribe at any time.
Cineworld said ominously in its recent six-monthly financial report in the US: “There can be no certainty as to the future impact of COVID-19 on the Group. “Cineworld was the biggest cinema chain on [‘Unhinged’]. Sign in to manage your newsletter preferences. Deadline reported that the US branch of the business, which operates as Regal Cinemas, will most likely close 65 of the 340-400 it reopened a month ago. Venues in Response to ‘No Time to Die’ Delay, Regal, Cineworld Confirms Temporary Suspension of U.S., U.K. Operations, Theater Owners Chief Blames ‘No Time to Die’ Delay on Gov. For more information about how we hold your personal data, please see our privacy policy.
For Cineworld workers, however, the damage is already done.
"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 Cineworld cinema chain has confirmed the news that it is considering closing its UK and US cinemas, but said a “final decision has not yet been reached”.
News of the Mooky Greidinger-run company shuttering all 127 of its U.K. and Ireland cinemas leaked on Saturday night, with the vast majority of the exhibitor’s 5,500-strong U.K. workforce learning of their potential job losses on social media. The Cineworld cinema chain has confirmed the news that it is considering closing its UK and US cinemas, but said a “final decision has not yet been reached”. "Film release schedules are being changed on a daily, never mind weekly, basis. The first time around, they did it at the drop of a hat, and it’s happened again,” says the front-of-house worker, who came to London from western England at 18 to pursue screenwriting. Tenet has had a disappointing box office take in the US – just over $45 million – although it has reached $307 million (£237 million) globally. Live coverage of the latest coronavirus news and updates. Naman Ramachandran contributed to this report.
It’s understood the industry organization is holding crisis talks Monday evening. News, photos, videos and full episode guide, Cineworld says “final decision” not yet reached about UK and US cinema closures, Christopher Nolan's Tenet earns £40 million in first weekend of release, See James Bond: No Time to Die official poster, New James Bond No Time To Die trailer delves into Madeleine Swann’s link to Safin, Tickets for Tenet go on sale as UK cinemas reopen in numbers from 26th August. Separately, rival cinema chain Odeon has revealed it is to switch to weekend-only opening at a quarter of its 120 sites. — Cineworld Cinemas (@cineworld) October 4, 2020. “For Mooky to go on television and talk about how we’re all a family? Once a decision has been made we will update all staff and customers as soon as we can. On the back of Monday’s news, distributor Studiocanal confirmed that “Saint Maud” would be released nationwide on Friday — “We’re committed to giving audiences the chance to see this film on the big screen, supporting British film and helping to ensure U.K. cinemas are provided with new content,” reads a statement from the company — but going forward, there will be a trickle-down effect that’ll pose “an issue for everybody,” warns Moseley. About us Click here to open. “Everything that had been in our heads [was finally happening], and given there’s nothing else on the calendar, we just started making plans.”. He told Ian King Live it was bleeding cash because of the delays to new releases and he had acted to preserve the company's future for its "big family" of staff. You can unsubscribe at any time. Business reporter The industry’s desperately-needed James Bond movie No Time To Die was the latest blockbuster to be moved from this year into 2021. The announcement prompted a horror show for the company's shares, which plunged by 57% at the open as investors digested the implications. The Cineworld closure in the UK could affect 5,500 jobs. Once a decision has been made, we’ll update all staff and customers as soon as we can.”.
Its replacement from November, the Job Support Scheme, will only support the wages of those in "viable" employment, working reduced hours. Was £208 per room per now now only £79
“The distributors played us. “Most people were watching the news when they found out, ‘Oh hang on, I’ve lost my job,'” one employee tells Variety. “We’ve done everything we can, and all that’s asked of us!” cries one 47-year-old front-of-house staff member, who spoke on the condition of anonymity. The company reported a $1.6 billion (£1.24 billion) loss for the first six months of the year, as the impact of the COVID-19-enforced cinema shutdown took its toll. Its announcement to the City on Monday read: "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. Cineworld's decision leaves staff at the mercy of a tough jobs market at a time when the government's furlough scheme - tapped by Cineworld during the lockdown that began in March - is coming to an end. "It has been a very challenging year both for Cineworld, and the world's largest cinema group AMC," he added. Cineworld and Cinemark Announce Agreement to Purchase Remaining Units of National CineMedia Held by AMC 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. The shares partly recovered later but were still 36% down by the close. At the same time, exhibitors insist the move sends a clear, if brutal, message to studios and indie distributors. If they’d shut down around then, or not reopened, that would’ve had a huge effect on the gross, which is now at nearly £2 million [$2.6 million],” says Moseley. Cineworld represents around 25%-35% of market share for mainstream films with full theatrical window release in normal times. Instead, the union is applying pressure to the U.K. Cinema Association in order to lobby the cinema chains as well as the government. Read more “This job felt like a stepping stone. Show times, trailers, news, movie details, and online ticketing. © Copyright 2020 Variety Media, LLC, a subsidiary of Penske Business Media, LLC. “We’ve been at the mercy of distribution and we now have to make a stand,” says the exhibition source, who notes that Cineworld has been “chugging along” but is swiftly losing money.
The news — which also affects all Regal Cinemas in the U.S., as revealed by Variety — has sent shockwaves across the industry.
Boris Johnson acknowledged there would be "tough times ahead" in the jobs market but he told reporters people should support cinemas where they could.
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The firm, which had already announced that it was seeking new funding to help it ride out the pandemic, is understood to be planning an incentive scheme to get staff back at reopening - whenever that may be. Cineworld tweeted yesterday: “We can confirm we are considering the temporary closure of our UK and US cinemas, but a final decision has not yet been reached. Staff, who now await some form of redundancy offer from their employer, say the move is a “big kick in the teeth” for a workforce that fiercely pulled together to get the company’s cinemas open again this summer. Cuomo, Led Zeppelin Wins 'Stairway to Heaven' Copyright Battle as Supreme Court Refuses to Hear Case, ‘The Witcher’ Season 2 Gets First Look at Henry Cavill’s New Armor, Megan Thee Stallion Delivers Powerful 'Protect Black Women' Statement on 'SNL', Why ‘Tenet’ Was the Wrong Movie at the Wrong Time (Column), The 10 Best ‘Gilmore Girls’ Music Moments, Taylor Lautner Buys Striking Agoura Hills Mansion, Timothée Chalamet, Josh Brolin, Oscar Isaac Star in Long-Awaited ‘Dune’ Trailer, Prada’s New Sustainable Fabric Is Made From Recycled Polyester and Can Regulate Body Temperature, Playoff Baseball Bubble Begins With Yankees-Rays At San Diego, 16 Useful Google Home Commands You’ll Wish You Had Known About Sooner.
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