In a statement sent to all its customers on Tuesday 5th of October 2020, Cineworld expressed its sadness that it has taken the decision to temporarily re close all its cinemas from Friday 9th October 2020 until further notice. The statement went on to thank both its staff who have successfully implemented the new protocols and its movie-loving customers.
Cineworld had reopened its doors in July following the March COVID lockdown. The Cinema explained that the decision had not been made lightly and has expressed “great sadness” explaining that the reason for the closure is due to the lack of major film releases and that this was temporary.
The announcement triggered a second fall in Cineworld Group Plc’s already beleaguered share price from 35.35p to 18.10p. Cineworld advised that “We will continue to monitor the situation closely” and that it “plans to resume operations once film studios are able to bring their pipeline of major movie releases back to the big screen“.
Whilst Rival cinema chains have not yet announced new closures it may only be a matter of time before others follow as the production and release of new films are delayed. Some also fear that after COVID their local cinema may never reopen.