Shares in Cineworld plunged 57% on Monday, after the world’s second-largest movie chain confirmed it will temporarily close its cinemas in the U.K. and the U.S., putting 45,000 jobs at risk.

U.K. Prime Minister Boris Johnson acknowledged there would be “tough times ahead” in the jobs market following Cineworld’s announcement, but encouraged people to go to the movies.

Cineworld’s move comes after the release of the latest James Bond film, “No Time to Die” was delayed for the second time. The MGM film had been due to be released in April this year, but was then postponed until November because of the pandemic. It is now expected to be released on April 2, 2021.

Cineworld UK:CINE Chief Executive Mooky Greidinger said the closure of its 663 cinemas was “not a decision we made lightly.”

“We did everything in our power to support safe and sustainable reopenings in all of our markets,” Greidinger said.

Read: Cineworld Warns COVID-19 Still Threatens Its Future. It’s Not the Only Theater in Trouble.

All operations will be suspended at 536 theaters in the U.S. and 127 Cineworld CNNWF and Picturehouse theaters in the U.K. from Oct. 8. The company didn’t give a date for reopening its cinemas.

Shares in Cineworld, which plunged 57% when the market opened, were trading 27.77% lower in early morning trading on Monday.

Susannah Streeter, senior investment and markets analyst at
Hargreaves Lansdown, said the beleaguered
entertainment industry has taken another huge blow with the confirmation that
all of Cineworld’s venues will close their doors temporarily.

“Although the delay of the latest 007 blockbuster prompted the decision, Bond isn’t the villain in this piece. The spread of COVID-19 around the world has been a horror movie for the industry and the fresh wave of infections is the latest installment in what’s

The move could put up to 5,500 jobs at risk, if the plans go ahead. Photo: Naomi Baker/Getty Images
The move could put up to 5,500 jobs at risk, if the plans go ahead. Photo: Naomi Baker/Getty Images

Cineworld (CINE.L), Britain’s biggest cinema chain could close all its screens in the UK and Ireland, as soon as next week, following the news that the latest James Bond movie would be delayed until April next year.

The operator plans to write to prime minister Boris Johnson and the culture secretary, Oliver Dowden, to say that the industry has become “unviable,” according to reports in the Sunday Times.

The move could put up to 5,500 jobs at risk, if the plans go ahead. It will reportedly ask its staff to accept redundancy, with possible incentives to rejoin the company when theatres reopen — likely to be next year.

Like many others in the leisure and hospitality industries, Cineworld was impacted by the coronavirus pandemic, which has seen many blockbuster movies delayed as filming was postponed.

On Friday, MGM and Britain’s Eon Productions announced that “No Time To Die,” which was first scheduled for release in April 2020, would be pushed back for the second time.

Film industry bosses hoped the James Bond movie, which was due to hit UK cinemas on 12 November would boost cinema-goers and revive the sector.

Other blockbusters such as Marvel’s “Black Widow” and “West Side Story” have also been delayed until 2021.

Cineworld, which has 128 cinemas in the UK, started reopening its theatres in July after lockdown measure were eased. At the time, Cineworld Group Plc said that 561 of its 778 global sites had reopened, with 200 cinemas in the US, six in the UK and 11 in Israel still closed.

Cineworld Action Group, which is run by and represents Cineworld employees, tweeted: “The front page of tomorrow’s Times is announcing that Cineworld is

Texas-based power provider Vistra will retire its entire fleet of coal plants in Illinois and Ohio by 2027 as part of its plan to reinvent itself as a renewable energy and battery company.

Together, the coal plants slated for closure account for 6.8 gigawatts of generation capacity — equal to around 15% of Illinois’ total power capacity. Five of the seven coal plants Vistra named are in Illinois.

A major power producer and retailer, Vistra had acquired several of the plants in 2018 after merging with energy company Dynegy. But like scores of other power companies before it, Vistra has struggled to make the coal plants profitable amid a surge in supply of natural gas, falling electricity prices, and newly competitive wind and solar farms. It also faced tightening environmental restrictions that would have forced onerous new investments to reign in pollutants.

The scheduled closures are only the latest in a long string of them. Since 2016 Vistra and its subsidiaries have closed or announced the closure of 19 coal plants totaling more than 16 gigawatts across Texas, Pennsylvania, Ohio, Illinois, and Massachusetts.

Some of the earlier closures occurred because plants ran afoul of environmental rules. In November 2019 a federal judge ordered two units in Bartonville, Illinois, to close by 2022, part of a lawsuit alleging violations of the Clean Air Act, according to Bloomberg Law. And in August 2019 Vistra said it would close four plants in Illinois to meet the requirements of Illinois’ Multi-Pollutant Standard, which limits allowed emissions of sulfur dioxide and other air pollutants.

Vistra owns a large portion, but not all, of Illinois’ coal power plants. Three others are owned by power company NRG. The municipally-owned City, Water, Light and Power (CWLP) owns the Dallman Power Plant downstate. And the Southern Illinois Power Cooperative

President Trump and Democratic presidential nominee Joe Biden sparred during the first presidential debate Tuesday – and the men did not mince words while facing off on several issues. Neither the president or former vice president were afraid to make personal jabs or call each other names as moderator Chris Wallace of Fox News dolled out questions on coronavirus, the economy and racial issues.

“Will you shut up, man?”

Biden became exasperated with Mr. Trump’s interrupting several times – and actually asked the president: “Will you shut up, man?” The comment came after Biden tried to answer a question about the Supreme Court and Mr. Trump talked over him.

Wallace also had to ask Mr. Trump to stop interrupting. “Mr. President, I am a moderator of this debate and I would like you to let me ask my question and then you can answer,” Wallace said.

A few minutes later, when Mr. Trump was again interrupting Biden as he tried to answer a question about health care, Wallace asked: “Mr. President, can you let him finish, sir? 

“He doesn’t know how to do that. You would be surprised,” Biden quipped before answering Wallace’s question. 

When both men began to interrupt each other, Wallace jumped in to say: “Gentlemen, I hate to raise my voice, but why shouldn’t I be different than the two of you?” He also told Mr. Trump: “Frankly, you’ve been doing more interrupting”

Biden calls Trump a “liar” and a “clown”

During Wallace’s questioning about health care, which the nominees continuously interrupted, Biden explained that he wanted to add a public option to expand the Affordable Care Act. Mr. Trump accused Biden of capitulating to Senator Bernie Sanders and the far left of the Democratic Party.

“The fact of the matter is, I beat Bernie Sanders,” Biden

President Trump and Democratic presidential nominee Joe Biden sparred during the first presidential debate Tuesday – and the men did not mince words while facing off on several issues. Neither the president or former vice president were afraid to make personal jabs or call each other names as moderator Chris Wallace of Fox News dolled out questions on coronavirus, the economy and racial issues.

“Will you shut up, man?”

Biden became exasperated with Mr. Trump’s interrupting several times – and actually asked the president: “Will you shut up, man?” The comment came after Biden tried to answer a question about the Supreme Court and Mr. Trump talked over him.

Wallace also had to ask Mr. Trump to stop interrupting. “Mr. President, I am a moderator of this debate and I would like you to let me ask my question and then you can answer,” Wallace said.

A few minutes later, when Mr. Trump was again interrupting Biden as he tried to answer a question about health care, Wallace asked: “Mr. President, can you let him finish, sir? 

“He doesn’t know how to do that. You would be surprised,” Biden quipped before answering Wallace’s question. 

When both men began to interrupt each other, Wallace jumped in to say: “Gentlemen, I hate to raise my voice, but why shouldn’t I be different than the two of you?” He also told Mr. Trump: “Frankly, you’ve been doing more interrupting”

Biden calls Trump a “liar” and a “clown”

During Wallace’s questioning about health care, which the nominees continuously interrupted, Biden explained that he wanted to add a public option to expand the Affordable Care Act. Mr. Trump accused Biden of capitulating to Senator Bernie Sanders and the far left of the Democratic Party.

“The fact of the matter is, I beat Bernie Sanders,” Biden