Broughton Cineworld unaffected as six other sites face closure
Cineworld has announced plans to close six cinemas across the UK as part of a wide-ranging restructuring plan.
The decision follows significant struggles since the Covid-19 pandemic and increased competition from streaming services.
The cinemas set for closure are located in Glasgow Parkhead, Bedford, Hinckley, Loughborough, Yate, and Swindon – Regent Circus. Notably, Broughton Shopping Park’s Cineworld branch will remain unaffected.
Cineworld currently operates more than 100 sites in Britain, including at the Picturehouse chain, and employs thousands of people.
The company entered administration in July 2023 while grappling with a debt estimated to be almost £4 billion.
Despite efforts to find buyers for some or all of its UK sites, the company was unable to do so and deemed the six locations “commercially unviable.”
Representatives from Cineworld have stated that affected staff have been contacted to begin a consultation process, with hopes to redeploy as many employees as possible.
They also denied media reports suggesting that up to 19 additional cinemas might close or that redundancies could “run into the hundreds.” According to the BBC.
To reduce costs, Cineworld will enter negotiations with landlords at several unspecified sites, potentially securing reduced rents.
A Cineworld spokesperson commented, “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 plan requires court approval. In the meantime, all of Cineworld’s UK operations will continue as usual until at least late September.
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