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Regal Cinemas to close all US theaters, impacting 40,000 employees - Business Insider

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Regal Cinemas confirms it will close all 500 of its US theaters in a move that will affect 40,000 employees as the pandemic ravages the movie industry

Rob Kim/Getty ImagesThe closures means approximately 40,000 Regal employees will not be able to work.

Shares of Regal's parent company, Cineworld, plunged 40% in trading Monday following the announcement. With virtually no new movies to show at its theaters — and a coronavirus outbreak that shows no signs of slowing — Regal Cinemas on Mondaythat it will shutter all of its US locations beginning Thursday, October 8.

Shares of the Cineworld, Regal's parent company, plunged as much as 40% following its announcement of the new closures Monday. In aexecutives pinned the closures on a lack of new film releases amid the pandemic. It also sought to separate stubbornly high COVID-19 case numbers in the US from its decision.

Spiking case numbers in New York City, once the US' epicenter of the outbreak, have led officials to reintroduce

 

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So if we paid for the unlimited pass upfront...I’m guessing we’re never seeing that money again? 😭

That stock market though......🙄

TimSchroeppel This is sad

More bad news. I might have to walk to Kroger and buy some OutshineSnacks frozen fruit bars to help keep my spirits up.

moose_elsarji JoeyND1023 mcgrane_matt OutDoors_Junkie well there goes Birch St

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Inside the fight to save Rent the Runway - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. Someone should report on them dropping their unlimited plan in early 2021 only to offer a limit of 16 items per month at a $30-60 increase in monthly cost at that tier vs unlimited. They say it's because customers aren't interested in unlimited and yet they limit and charge more?
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Regal Cinemas likely to close all 500+ US theaters, report says - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. That is what happens when the Democrats shut everything down people find alternative ways to do things they get used to it and you can kiss your business goodbye. Thank a Democrat
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