Entertainment

Cineworld plans to reopen all cinemas in July

The cinema chain said it had secured an extra £90 million in funding.
The cinema chain said it had secured an extra £90 million in funding. The cinema chain said it had secured an extra £90 million in funding.

Cineworld hopes to start showing films in all its cinemas in July, as the UK slowly comes out of lockdown.

Bosses said that its cinemas would open when restrictions are lifted. Branches in England, Wales, Scotland and Northern Ireland may open at different times due to the varying approaches to which lockdown is eased in each country.

“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 on Thursday.

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

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 theatre has ripped out many of its seats to ensure distance between members of the audience. Others have installed plastic screens between seats.

Bosses at the cinema chain said: “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.

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

Bosses also said they had managed to secure another $110 million  (£90 million) through increasing the amount it is able to borrow from its banks.

It has also been approved for an additional potential $45 million (£37 million) in 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.

The company’s shares rose by 25% after the news.

Some film industry analysts have reportedly estimated the outbreak could wipe 5 billion US dollars (£3.9 billion) off the global box office.c