Regal Cinemas shutting down temporarily
CHATTANOOGA (WDEF) The Regal cinemas at Hamilton Place are shutting down again.
The company is closing all of their theaters across the country on a temporary basis, effective Thursday.
Company officials say losing the James Bond film in November means they simply don’t have enough potential blockbusters to attract customers during the pandemic.
Right now, the Regal Hamilton Place is showing Tenet, some less-heralded films plus several movie classics.
At this point, 70% of their theaters were open with just 50% of their capacity.
The James Bond move to next year was the just the last straw for the chain.
A new Top Gun movie was also pushed back til 2021 and Wonder Woman 1984 was postponed til Christmas.
The company that owns Regal, Cineworld and Picturehouse cinemas got hammered on Wall Street as a result.
The stock fell as much as 58%.
45,000 employees will be affected by the shutdown.