By Muvija M and Yadarisa Shabong
(Reuters) - Cineworld <CINE.L>, the world's second-biggest cinema chain, will close its UK and U.S. movie theaters this week, leaving as many as 45,000 workers unemployed for the foreseeable future as it fights to survive a coronavirus collapse in film-making and cinema-going.
The company said the reluctance of studios to go ahead with major releases such as the new James Bond film had left it no choice but to close all 536 Regal theaters in the U.S. and its 127 Cineworld and Picturehouse theaters in the UK from Oct. 8.
Its statement follows a grim evaluation by ratings agency S&P's of rival AMC Entertainment <AMC.N> on Friday which gave the U.S.-based company six months unless it is able to raise more capital.
Cineworld's announcement on Monday detailed the scale of job losses from its move, which affects thousands of ancillary staff including cleaners and security as well as its own employees.
In an interview, Cineworld Chief Executive Mooky Greidinger said the closures were temporary, and he did not expect any locations to shutter permanently due to the pandemic. He said he saw mid-December as the "best-case scenario" for reopening but acknowledged it could be later.
The key, he said, is that authorities must allow theaters to open in New York and more widely in California. Studios have told cinema operators they will not release major films without those markets, he said.
Theaters need to know they will have a slate of new films to show for six to eight weeks after "Wonder Woman 1984," which is currently scheduled to open on Christmas.
"We need a clear lineup to follow," Greidinger said. "We will not take the risk again to (reopen) and there will be no movies afterward."
Shares, which have plummeted more than 80% this year, dropped as much as 60% to an all-time low within 10 minutes of the opening bell on Monday as Cineworld said it was looking at all ways of raising additional funds. The stock closed 36% lower.
The entertainment industry has been among the heaviest hit by social distancing and other restrictions, with Walt Disney <DIS.N> last week announcing plans to lay off roughly 28,000 employees, mostly at its U.S. theme parks.
Cineworld began reopening in July after virus-related restrictions started to ease. But release of the James Bond film "No Time To Die," which had been postponed from April to November, was pushed back further to April 2021. Delays with other films including Marvel's "Black Widow" have left the months ahead looking barren.