Friday, November 22, 2024

Cineworld cinemas to close six branches – find out those affected

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The business has struggled since the Covid pandemic and with the rise in streaming services.

But all cinemas in the West Midlands have survived the cull.

The affected sites are: Glasgow Parkhead, Bedford, Hinckley, Loughborough, Yate and Swindon.

Cineworld has 101 locations in the UK and Ireland, including in Wolverhampton, Telford, Shrewsbury and Birmingham, which will all continue to operate.

The chain entered administration in July 2023 while struggling with a debt pile estimated to be almost £4 billion.

Cineworld in Shrewsbury

The company, which also owns the Picturehouse chain in the UK, said the six sites were “commercially unviable” and would close.

There have been rumours that another 19 cinemas could be in danger but those have been denied by Cineworld.

While audiences started returning after the pandemic, the organisation said in 2022 that it expected its admission for 2023 and 2024 to remain below pre-pandemic levels.

A Cineworld spokesperson said: “We are implementing a restructuring plan that will provide our company with a strong platform to return our business to profitability, attract further investment from the Group, and ensure a sustainable long-term future for Cineworld in the UK.”

The restructuring plans have to gain court approval. While the process is ongoing, all of Cineworld’s UK operations will continue until at least late September.

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