How bad is it that the new James Bond is already being postponed? For the British cinema chain Cineworld, the news was enough to temporarily close almost 700 cinemas.
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The British cinema chain Cineworld, with cinemas in the United States, Europe and Israel, is the second largest in the world after the Chinese chain Wanda. The fact that it is now closing 546 cinemas in the US and 127 in the UK and Ireland is shocking news in the industry. The immediate cause is the news that the new James Bond will not be released in November, but only in April 2021.
This spring, Cineworld managers decided to part with their wages. Nevertheless, the group suffered a loss of 1.36 billion euros in the first half of 2020. The 5,500 British workers are proposed to be laid off, with a first chance to return should the cinemas ever reopen.
Cinemas are struggling with both reluctant audiences and a shortage of new films. Film studio Warner Bros. just decided The witches not to be released in theaters but to sell to streaming service HBO. The film adaptation of Roald Dahl’s childhood novel, with Anne Hathaway, was one of the fall films that had high expectations.
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