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Manage episode 274096815 series 2795548
Regal cinemas is closing its theaters temporarily. This after the latest James Bond Film was pushed to spring due to the COVID-19 pandemic. More than 500 locations will be impacted.
Regal, the second largest movie theater chain in the US, reported a one point six billion dollar loss in the first half of 2020. And they say they need to raise more money to survive prolonged shutdowns.
The National Association of Theatre owners warns that “If the status quo continues nearly 70 percent of small and midsize movie theater companies will be forced to file for bankruptcy or to close permanently.”