National newspaper reports suggest that Cineworld is considering the decision following the latest postponement of the new James Bond movie No Time to Die and the delayed releases of Black Widow and West Side Story, also now shelved until 2021.
Cinemas across the UK have seen a slow start after they were given the green light to open on July 4, and many film companies have been taking their best-sellers straight to alternative platforms, including the live action Mulan on Disney Plus.
Reports in The Sunday Times said that Cineworld, the world’s second-biggest cinema operator, could announce this week that it is set to close all its screens in the United Kingdom and Ireland, putting up to 5,500 jobs at risk.
Their Huntingdon chain is just a 20 minute drive from Peterborough and is often used by locals within the city, particularly after pairing up with Tesco Clubcard to gain tickets at bargain prices.
Last month the global chain recorded a loss of £1.3billion in the first half of 2020 and said it may need to raise extra funds.
The group posted the hefty loss for the six months to June 30 following pre-tax profits of £110million a year ago, as revenues plummeted when the lockdown forced cinemas to close.
But it said current trading has been "encouraging considering the circumstances", with solid demand for action-thriller and spy film Tenet released earlier this.
A spokesman from Cineworld said: "We can confirm we are considering the temporary closure of our U.K. and US cinemas, but a final decision has not yet been reached. Once a decision has been made we will update all staff and customers as soon as we can."