Cineworld is said to be closing around 25 cinemas in the UK and cutting hundreds of jobs under a new plan to rescue the struggling cinema chain.
The cinema operator will publish details of a restructuring plan on Friday that will see theatres across the UK close.
Around six Cineworld cinemas will begin the closure process immediately and close permanently this summer, sources said, according to Sky News.
The company has held initial talks with major commercial landlords, including Landsec and Legal & General, about restructuring plans.
Some owners are said to be considering rejecting the proposals, but it is not yet clear whether it will be enough to stop the restructuring plan.
Cineworld is said to be closing around 25 cinemas in the UK and cutting hundreds of jobs under a new plan to rescue the struggling cinema chain.
Cineworld customers said the chain overpriced trips to the cinema.
The company faced the problem of people not returning to the cinema after the pandemic and instead increasingly choosing to stay home and watch new releases on streaming services.
The company is advised by AlixPartners.
Other cinema operators are expected to step in and take over some of Cineworld’s closed theatres.
“We continue to review our options but do not comment on rumours and speculation,” a Cineworld spokesperson previously said in a statement.
After news of the closure circulated on social media, many moviegoers took to X, formerly Twitter, to express their opinions.
“Given that cinemas are so overpriced and movies now take less time to come out on streaming, I’m not surprised,” said one commenter.
“Does anyone remember the orange pictures on Wednesday and Saturday mornings for £1… ah, the good old days…”
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