Cineworld ‘will shut round 25 UK cinemas and axe a whole lot of jobs’
Cineworld is reportedly set to close around 25 UK cinemas and axe hundreds of jobs under a new plan to save the ailing screen chain.
The cinema operator will publish details of a restructuring plan tomorrow that will result in the site closures across the UK.
Sources said around half a dozen Cineworld cinemas would begin a closure process immediately and shut for good this summer, according to Sky News.
The company has been in preliminary talks with large commercial landlords, such as Landsec and Legal & General, about the restructuring plans.
Some landlords are reportedly considering rejecting the proposals, but it remains unclear whether this would be in sufficient number to stop the restructuring plan.
Cineworld is reportedly set to close around 25 UK cinemas and axe hundreds of jobs’ under new plan to save the ailing screen chain
Cineworld customers have said the chain has priced them out of trips to the movies
The company has faced problems of people not returning to the cinema post-pandemic and instead increasingly choosing to stay at home and watch new releases on streaming services
The company is being advised by AlixPartners.
It is expected that other cinema operators could step in and take over some of Cineworld’s closed sites.
A Cineworld spokesperson previously said in a statement: ‘We continue to review our options but we don’t comment on rumours and speculation.’
After the news of the closures broke on social media, a number of cinema-goers took to X, formerly Twitter, to express their views.
One commenter said: ‘With cinemas being so over priced and given that films now take less time before they end up on streams I’m not surprised.
‘Does anyone remember orange Wednesdays and Saturday morning pictures for £1.. ah the good old days.’
Earlier this month, Cineworld customers said the chain has priced them out of trips to the movies.
MailOnline calculated a family of four going to see a film in 4DX along with snacks and drinks could now cost as much as an eye-watering £105.
