The Latest

BREAKING NEWSMajor UK cinema chain ‘will close around 25 UK cinemas and axe hundreds of jobs’ under new plan to save the ailing screen chain

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 on Friday that will result in the site closures across the UK.   Sources said around half a dozen Cineworld cinemas would
byRachel Greene
25 July 2024
1 minute read
BREAKING NEWSMajor UK cinema chain ‘will close around 25 UK cinemas and axe hundreds of jobs’ under new plan to save the ailing screen chain
Total
0
Shares
0
0
0

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 on Friday 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, including Landsec and Legal & General, about the restructuring plans. 

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 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

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 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

Some landlords are reportedly considering rejecting the proposals, but it remains unclear whether this would be in sufficient number to stop the restructuring plan. 

The company is being advised by AlixPartners. 

Total
0
Shares
Share 0
Tweet 0
Pin it 0
Author
Rachel Greene
Hi there, I'm Rachel Greene, an entertainment journalist with a love for all things Hollywood. From celebrity interviews to movie reviews, I bring the glitz and glamour of the entertainment world to my readers. My goal is to provide insightful and entertaining content that keeps you up-to-date with the latest in film, television, and pop culture.
Leave a Reply
Related Posts
What we know about military records of Walz and Vance
Read More

What we know about military records of Walz and Vance

What we know about military records of Walz and Vance Getty Images Democratic vice-presidential candidate Tim Walz's military record has been under scrutiny since he was announced as Kamala Harris's running mate. Historic accusations made by some veterans have been revived by his opposite number, Republican JD Vance, who himself served in the military. Mr
bySarah Blake
This French Farce makes Paris 2024 the worst Olympics in my lifetime! KENNEDY slams the pedo rapists, gender madness, sewer swims and genital-flashing drag queens
Read More

This French Farce makes Paris 2024 the worst Olympics in my lifetime! KENNEDY slams the pedo rapists, gender madness, sewer swims and genital-flashing drag queens

Triathletes dripping with the Seine’s sewer-soiled water must have been thinking what the rest of us now know: This is the crappiest Olympics in recent history! Literally. It’s taken nine years, $1.5 billion of environmental remediation and countless 5-hour workdays (this is France, folks) for the Paris 2024 organizers to deem the E. coli-tainted river
byOlivia Adams