As part of a major restructuring plan, the struggling Cineworld chain is to close 25 venues, with some closures due to begin in a matter of weeks.
In the latest round of bad news from Cineworld, the struggling cinema chain is reportedly planning to close roughly 25 of its venues as part of a restructuring plan. It’s said that around 12 of those cinemas could close within a matter of weeks, and that the resulting job losses will number into the hundreds.
Details of the restructuring plan are due to be officially announced on Friday (26th July) according to Sky News sources. The same report suggests that Cineworld is also seeking rent reductions on 50 other venues under its banner. The proposals will have to be approved by Cineworld’s creditors.
Less than three weeks ago, it was reported that Cineworld originally had plans to put 25 of its least profitable venues up for sale; it’s clear that those plans have since changed drastically.
Cineworld has had financial problems for several years now, with the company filing for voluntary bankruptcy in 2022. The firm also attempted to sell parts of its business around the same time, but failed to receive any satisfactory bids.
It isn’t currently clear which of its 25 UK cinemas will close; Cineworld currently has around 103 sites across the country, which puts the scale of the closures into perspective. There are already numerous towns and cities around the UK that no longer have a cinema of any kind; Blackpool, for example, went from a peak of 17 cinemas in the early 20th century to precisely none in 2024. Thankfully, the local council stepped in and opened the nine-screen Backlot cinema in March.
We’ll bring you more on Cineworld’s plans – and a list of affected venues – as we get it.
