The FTSE 100 index closed down 0.57 per cent or 38.06 points to 6,674.83 this afternoon. Regal Cinemas owner Cineworld is closing all of the chain’s locations in the U.S. as well as its theaters in the U.K. in the wake of MGM and … Santander is closing 111 branches up and down the country by the end of August this year, it announced today. Variety understands from sources that the chain may close all sites in both countries as early as this week. The Regal cinema owner, which began reopening in July after COVID-19 lockdown restrictions started to ease, employs 37,482 people … It seems that we have our first major shutting, and it comes from Cineworld. Over 45,000 people may lose their jobs or be furloughed, and there’s no timeline for reopening. — Cineworld Cinemas (@cineworld) October 4, 2020. The chief executive of Cineworld, which operates Regal cinemas, said he had no choice but to close U.K. and U.S. sites because the cinema chain was bleeding too much cash to keep them open. On top of those financial arrangements, Cineworld has been making operational changes to bear down on costs while the estate is closed. The move comes following a weekend report that Regal owner Cineworld would shut down U.S. theaters, as well as Cineworld locations in the United Kingdom. Its parent company Cineworld is closing 127 theaters in the UK as well. CINEWORLD cinemas are considering permanently closing down some of its sites as the chain looks to arrange a rescue deal. It is a subsidiary of Cineworld Group, which is based in the U.K. – where the corporation is also closing more than 100 theaters. Cineworld Group Plc said Monday that it would close 536 Regal cinemas in the U.S. and 127 Cineworld and Picturehouse venues in the … Cineworld
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