End of a cinema era

[d000hg]

I had initially thought they meant shutting the cinemas 'for now' but this is more permanent, correct? Although I cannot see anyone rushing to buy the locations so it might be moot and they sit mothballed in any case?

[Andy2]

Can I put in a cheeky bid of £1 to buy cineworld ?

[Mordac]

Can I put in a cheeky bid of £1 to buy cineworld ?

There are probably easier ways to be £9bn in debt, but don't let that put you off...

[The Bona Fide]

I had initially thought they meant shutting the cinemas 'for now' but this is more permanent, correct? Although I cannot see anyone rushing to buy the locations so it might be moot and they sit mothballed in any case?

No. The article I read specifically said it was likely they'd be shut until the climate improved - most likely towards the middle of next year - and , more specifically, when there was a decent glut of new releases to churn through.

Incidentally, I checked my local cineplex and they're only screening 3 features with only 3 viewings per film each day. Must admit, Tenet looks good, though

A secret agent embarks on a dangerous, time-bending mission to prevent the start of World War III

Bit of RPatz too

[SueEllen]

I had initially thought they meant shutting the cinemas 'for now' but this is more permanent, correct? Although I cannot see anyone rushing to buy the locations so it might be moot and they sit mothballed in any case?

Unfortunately they don't need Mecca Bingo Halls anymore.

There seems to be old cinemas where I've lived and live in London that are now just empty buildings. They often have plans to change them to something useful but due to the structure of the building unless they knock them down they can't.

[The Bona Fide]

Unfortunately they don't need Mecca Bingo Halls anymore.

There seems to be old cinemas where I've lived and live in London that are now just empty buildings. They often have plans to change them to something useful but due to the structure of the building unless they knock them down they can't.

I know of at least 3 that have become a Wetherspoons pub. There's a nice one not far from Cardiff Central that I used to use on the way back from the airport while I was waiting for my train.

[d000hg]

Our old cinema got turned into a reasonably nice Walkabout but it rapidly deteriorated and then sat empty for years. Small bits have been used but I think it's largely unused.

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[Zigenare]

Temporary suspension of cinema operations in the US and UK



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."

Covid won't last forever. I for one was happy to hoover up some shares at a discount of 47%.

YMMV

[SueEllen]

I know of at least 3 that have become a Wetherspoons pub. There's a nice one not far from Cardiff Central that I used to use on the way back from the airport while I was waiting for my train.

Unfortunately Wetherspoons opened up before the Mecca Bingo halls failed so they are just empty and rotting. Doesn't help that some of them have listed bits.

[WTFH]

There are probably easier ways to be £9bn in debt, but don't let that put you off...

Set up 5 failed casinos, have 4 3 failed marriages, pay $750 in tax and spend $141,000,000 playing golf over a 4 year period.