Cineworld Reveals List of Six UK Cinemas Facing Closure

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July 30, 2024

Cineworld is recognised as a leading global cinema group, operating in 10 countries including the UK, Ireland, Poland, the Czech Republic, Slovakia, Hungary, Bulgaria, Romania, Israel and the US.

Despite its popularity among cinema-goers, the chain has announced that it will close several of its 751 sites, with 100 of these based in the UK.

Under a new restructuring plan aimed at stabilising the business, Cineworld plans to close approximately 25 cinemas in the UK and cut hundreds of jobs.

The first six UK cinemas slated for closure in the coming months are Glasgow Parkhead, Bedford, Hinckley, Loughborough, Yate, and Swindon Circus.

Earlier closures include sites in Newport (Wales), Runcorn (Cheshire), and Bristol. Cineworld Runcorn and Cineworld Bristol closed following a bankruptcy ruling in the US.

In September 2022, Cineworld filed for bankruptcy protection in the US due to difficulties paying off debts and leases amounting to nearly $9 billion, stemming from an acquisition spree, as reported by Bloomberg UK.

The closures of Cineworld Runcorn and Cineworld Bristol took effect on November 26, 2023. Cineworld Friar Walk in Newport closed earlier, unable to reopen after the UK's Covid-19 lockdown.

In addition to Cineworld locations, the chain will also shutter several Picturehouse cinemas it owns. Last month, Picturehouse announced the closure of three London-based branches: Fulham Road, Bromley, and Stratford East.

Fulham Road has already closed, while Stratford East is set to operate for the final time on July 28. Bromley Picturehouse will officially shut down on August 1.

A statement from Cineworld said: "Each of these cinemas is beloved, but rising operational costs and declining admissions have left us with no alternative."

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Molly Monks M.I.P.A

Licensed Insolvency Practitioner at Parker Walsh

I am Molly Monks, a licensed insolvency practitioner at Parker Walsh. I have over 20 years of experience helping directors with the financial struggles they may face. I understand that it can be overwhelming and stressful, so I offer practical straightforward advice, which is also free and confidential. I spend time with directors to get a good understanding of their business and their goals, therefore providing the best tailored advice possible.

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