The Cineworld multiplex at Coppins Bridge in Newport could be closing as early as this week as a result of losses caused by the lockdown.
International news agency Reuters additionally reported that all the chain's sites in the UK, Ireland and United States were ready to shut their doors.
The company is said to have told the government the movie-theatre industry has become "unviable".
Its announcement came after many studios postponed releasing big-budget films, including the forthcoming Bond movie "No Time To Die".
Some industry observers suggested that any re-opening might not happen until next year.