The UGC George-V cinema, closed since March 15 due to the pandemic, will not reopen on June 22 like the other 2,000 cinemas in France. According to the specialized media Le Film français, UGC has indicated a non-renewal of lease with the insurance company Groupama, owner of the building of more than 20,000 m². The cinema renamed George-V in 1952 will have to return its keys on June 30. Located at 144-146 avenue des Champs-Élysées for 82 years, the UGC George-V cinema has announced its definitive closure. Unlike the 2,000 cinemas in the France, the schedules will remain lowered on June 22, 2020. It is one of the last UGC rooms located on the Avenue des Champs-Élysées. The cinemas on the Champs-Élysées are all disappearing little by little because of soaring real estate prices. At the time, 40 cinemas existed on the Champs-Élysées. From now on, there are only 3 left: Le Normandie, Le Publicis and Le Marignan. The George-V, which was born in 1938, was bought by UGC in 1993, but it will also bid farewell to the beautiful avenue. The UGC George-V cinema had 11 screens. 
According to Le Film français, attendance in recent years of the establishment has increased from 780,404 admissions in 2012 to 412,142 in 2019.
The closure of the UGC George-V comes as a vast real estate project is underway from 140 to 150 avenue des Champs-Elysées. This project provides for the installation of a luxury hotel of the hotel giant Accor Hotels, 5,000 m² of shops and a new multiplex under the MK2 banner. We should see the project completed by 2024.
