LONDON (UK) – British cinema operator Cineworld Group Plc said on Tuesday that it would reopen some of its theatres in the last week of June and that it expects all of them to reopen by July with enhanced sanitation procedures across all sites.
The company, which did away with its $1.65-billion deal to buy Canada’s Cineplex last week, expects to reopen in the United States and the UK on July 10.
Shares in the company, which have fallen around 64% so far in the year, were seen opening 10% higher, according to premarket indicators.
Cineworld, which had shut down its theatres due to coronavirus-led restrictions, said it had updated its booking system to ensure social distancing along with adapting movie schedules to manage queues and avoid the build-up of crowds in lobbies.
Cineworld, which operates about 9,500 screens across the world, with more than 7,000 in the United States, also secured an extra $110 million from lenders and a waiver on loan covenants last month to help it survive lockdowns.
Director Christopher Nolan’s thriller “Tenet” will debut in cinemas on July 31, the first new blockbuster release in months for movie theatres that need fresh films to lure audiences after the lockdown.
(Photos syndicated via Reuters)
This story has been edited by BH staff and is published from a syndicated field
