Cineworld could close all 128 cinemas in the UK and Ireland, putting thousands of jobs at risk, according to reports.
The cinema chain could announce the decision that 5,500 jobs would be at risk tomorrow, reports the Sunday Times.
The heads of Cineworld Group PLC, the world's second largest cinema chain, are reportedly preparing to write to Prime Minister Boris Johnson and Culture Minister Oliver Dowden that the industry has become "unprofitable".
Cineworld bosses have blamed film studios' decision to postpone large budget films after the coronavirus pandemic, the newspaper reports.
This week, the release of the new James Bond movie "No Time to Die" was postponed until April 2021, just weeks before its release – after its release was originally postponed earlier this year due to coronavirus.
Cineworld could close all 128 cinemas in the UK and Ireland, putting thousands of jobs at risk, according to reports
Fast & Furious sequel F9 is postponed again to May 2021
The Fast And The Furious series won't see the checkered flag anytime soon.
The release of the highly anticipated sequel F9 has been delayed again as it is now due to be released on May 28, 2021 on Memorial Day weekend that Universal announced on Friday.
Back in March it was reported that the film was postponed to April 3, 2021, according to The Hollywood Reporter.
However, the final change was made hours after the November-April 2, 2021 delay in the November-April 2, 2021 release of the James Bond movie No Time to Die.
Universal distributes the film internationally.
The films Fast and Furious are always big earners at the national and international box office, and the lack of F9 will have a significant impact on the 2020 box office. The last two films made over $ 1 billion.
The full trailer had been revealed just a month earlier.
The clip showed Vin Diesel's character Dominic Toretto again facing his brother Jakob, played by John Cena, with epic car chases and fights across London – and appearances by Charlize Theron and Helen Mirren.
On Friday, the release of the highly anticipated sequel to Fast and Furious F9 was also delayed again.
It will now be released on Memorial Day weekend on May 28, 2021, Universal announced.
MailOnline has asked Cineworld Group PLC for a comment.
In the meantime, Phil Clapp, managing director of the UK Cinema Association, described the reported closure of the Cineworld cinemas as a "heavy blow".
He told the Sunday Times: "The announcement is likely the worst blow to UK cinema operators of a series of similar announcements in the past few weeks and will undoubtedly result in a significant number of cinemas being closed again."
The UK cinema industry suffered a slump in profits when the country stalled in March following the coronavirus outbreak.
Cineworld was due to reopen on July 10th after the government eased lockdown measures and allowed cinemas to reopen from July 4th.
However, the reopening of its cinemas in the UK was delayed by more than two weeks until July 31st, which coincided with "recent adjustments to the schedule for upcoming film releases".
Social distancing measures have also been introduced, including one-way systems, Plexiglas screens for employees, mandatory contactless payments, and no more pick-and-mix.
But blockbuster releases were in short supply all summer, and Christopher Nolan's spy thriller Tenent was supposed to be one of the highlights.
However, industry experts were reportedly "startled" by the film's lackluster performance on the big screen, causing other major studios to postpone their main releases.
This includes the latest from the James Bond series "No Time To Die", which was due to debut in theaters on November 11th.
The latest film in the James Bond series "No Time To Die", which was due to hit theaters on November 11th, has now been postponed to April 2021
But it will now be delayed "so that it can be seen by a global theater audience," the film's producers Michael G. Wilson and Barbara Broccoli announced this week.
A statement on Twitter said: & # 39; MGM, Universal and Bond producers Michael G. Wilson and Barbara Broccoli today announced the release of NO TIME TO DIE, the 25th film in the James Bond Series, postponed until April 2, 2021, will be seen by a global theater audience.
"We understand the delay will be disappointing for our fans, but we are now looking forward to NOT SHARING NO TIME TO DIE next year."
The 25th film in the franchise finds Bond after retiring from active service and enjoying a quiet life in Jamaica when his old friend Felix Leiter, played by Jeffrey Wright, shows up from the CIA for help.
Leaving his seemingly happy life with Madeleine, played by actress Lea Seydoux, Bond returns to the field to face Safin, who is armed with a new dangerous technology that could affect the world.
The film, directed by Cary Joji Fukunaga, was originally due to be released in April 2020 but has been postponed to November in light of the coronavirus pandemic.
No Time To Die, which also stars Rami Malek as the villain Safin and Ana de Armas as CIA agent Paloma, will bring a satisfactory ending to Daniel Craig & # 39; s Bond, according to producer Barbara Broccoli.
Reports of plans to close Cineworld come amid a carnage of jobs on Main Street. Since the lockdown began in March, major UK employers have shed 193,731 jobs.
Earlier this week, TSB announced that it would cut around 900 jobs as part of its plans to close 164 of its bank branches.
The Edinburgh-based bank expects most of the layoffs to be voluntary but does not rule out the possibility of employees being laid off.
TSB added that its branch network would be the seventh largest in the UK after the closings reduced it by a third.