Cineworld plans to reopen all its cinemas in July

Cinema plans to reopen in July

Cineworld hopes to start showing films in all its cinemas in July, as countries around the world slowly come out of lockdowns.

“Cineworld currently anticipates that government restrictions related to cinemas will be lifted in each of its territories by July.

“Subject to this and confirmation of the schedule for film releases, Cineworld anticipates the reopening of all of its cinemas in July,” the cinema giant said in a statement to investors. 

“Cineworld has put in place procedures to ensure a safe and enjoyable cinema experience for its employees and customers,” it added.

It promised to be “the best place to watch a movie” even as social distancing measures are likely to hugely change the experience of going to the cinema. 

In Berlin, one cinema has ripped out many of its seats to ensure distance between members of the audience. Others have installed plastic screens between seats.

“Cineworld is excited by the great movie line-up to follow the reopening of cinemas, starting with the highly anticipated new Chris Nolan movie Tenet and immediately after that with Mulan, a new Disney adventure movie,” the company said.

“Cineworld, as always, greatly believes in the theatrical experience and is fully committed to be the best place to watch a movie,” it added.

The London-listed company operates about 9,500 screens globally with more than 7,000 in the US. 

Cineworld also said it had managed to secure another $110m through increasing the amount it is able to borrow from its banks.

It has also been approved for an additional potential $45m in UK government-backed coronavirus large business interruption loans. 

The new funding gives the company enough headroom to support the chain even if cinemas have to stay closed until the end of the year, managers said.  

US cinema operators, including AMC Entertainment, also expect to reopen their sites in July. 

Cineworld did not provide any update on its proposed takeover of Canadian rival Cineplex, which would make it the biggest cinema operator in North America. 

The company’s shares rose by 25% in London trade this morning.

News from: RTE

Written by Nicky Wicky

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