Daytona Beach, FL - Cineworld Group, the UK-based parent company of Regal Cinemas, announces the temporary shutdown of their international operations, which includes over 500 theaters in the United States.
"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," said Cineworld CEO Mooky Greidinger in an update posted on the company's website Monday (October 5th).
Per the company's update, the decision to suspend operations came as the cinema industry remains reluctant to release any new films—including the latest installment in the James Bond series, "No Time To Die," which has been pushed back to April 2021 according to a report from the BBC.
With that in mind, the company could not "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 closure will also affect about 45,000 employees across the company's network of over 700 theaters. Currently, Regal Cinemas operates two locations in the area, with theaters in Ormond Beach and Port Orange.
Closures will begin on Thursday (October 8th).