Cinema chain Everyman cuts plans to open new screens this yr

Upmarket cinema chain Everyman will not open any new venues this year as it battles a ‘challenging’ economic backdrop.

Last summer, the cinema chain said it had plans to open two new venues in 2026 with a ‘strong pipeline of future developments’ in place.

In an update today, Everyman said it no longer expected to open any new venues ‘in line with the group’s strategy to reduce net debt.’

Net debt increased from £18.1million to £22million in the year to 1 January 2026.

Group revenue jumped 8.7 per cent in 2026 to £116.5million and Ebitda rose 4.9 per cent to £17million, in line with expectations set out in its disastrous pre-Christmas update.

Everyman has ditched plans to open any new venues as it targets its debt pile

Everyman had previously said it was on track for £121.6million in revenue and £20million in profits.

It blamed a weak fourth quarter film slate and a ‘challenging economic backdrop’ with rising unemployment, higher taxes and living costs hitting consumer spending.

Shortly after, chief executive Alex Scrimgeour was replaced on an interim basis.

Everyman, which runs 49 cinemas across the UK, has struggled to regain its shine since the pandemic, as other cinema chains have picked up elements of its winning formula.

Leading chains Vue and Odeon have installed reclining seats, while others have introduced fancier food offerings.

The wider industry is struggling with languishing cinema trips as figures show box office revenue was down 33 per cent year-on-year in November despite the release of Wicked: For Good.

Shares in the cinema chain crashed nearly 50 per cent in 2025 and are down 89 per cent since their 2018 peak.

In today’s trading update, Everyman said it had increased admissions to 4.4million, up 2.3 per cent, while market share increased 4 percentage points to 5.8 per cent.

Chief executive Farah Golant said: ‘Against a challenging economic backdrop, our business model is showing resilience… we are encouraged by the quality of upcoming content and are focused on further elevating the iconic Everyman brand.’