Reports have emerged this morning that Cineworld will close all UK cinemas threatening 5,500 jobs.
This would see the Bexleyheath branch close and possibly the Picturehouse cinema in Greenwich. Picturehouse is owned by Cineworld.
It also impacts upon plans for a new cinema in Woolwich. It’s less than a year since Picturehouse was announced for Woolwich as part of the Spray Street project.
Alongside the closure comes heavy lobbying of Government for assistance. It’s possible that will succeed and the chain survives into 2021 – though not without six months of closure and many out of work – in the short to mid term at least.
A big hope for cinema was the release of Tenet, though reports state after an initial burst viewing numbers quickly declined. The delay to the latest Bond film to April 2021 was the latest blow.
The question is, how many cinemas will exist in 2021 for the Bond film to release into, and will sufficient numbers feel confident in returning?
Cineworld made a loss of £1.3 billion in the six months to June 2020.