SACRAMENTO (CBS13) — The second-largest movie theater chain in the United States is temporarily closing its doors Thursday.
Regal Cinemas says with not enough new movies coming out, it is losing more money staying open than closed. The closure is putting 45,000 people out of work.
Movie theaters just got the green-light to reopen with limited capacity last week in Sacramento County. The closure will affect three locations in Sacramento County — Natomas, Laguna, and Delta Shores — as well as theaters in El Dorado Hills, Roseville and Davis.
“We were bleeding much bigger amounts when we are open than when we are closed,” Mooky Greidinger, Cineworld Chief Executive, said.
— Regal (@RegalMovies) October 5, 2020
The decision to push back of latest James Bond movie to April is forcing all 536 Regal Cinemas to temporarily close by Thursday.
Christopher Nolan’s “Tenet” tested the waters with disappointing domestic box office results. Disney re-released the 1993 Halloween hit “Hocus Pocus” last weekend and it was #2 at the Box Office.
Industry executives and actors are asking congress for COVID-19 relief specifically for “our country’s beloved movie theaters.” They said without it, theaters may not survive.
In New York, theaters are not yet allowed to reopen.
“A lot of journalists live in New York, a lot of film critics live in New York, a lot of culture influencers live in New York and without New York open, the major studios are reluctant to give us their big movies. And without big movies, we can’t get people back in the cinemas,” John Fithian with the National Association of Theatre Owners said.