Cineworld to close 25 UK locations: full list of cinemas at risk

VaselineJuly 28, 2024

0 2 minutes read

Cineworld to close 25 UK locations: full list of cinemas at risk

Cineworld plans to permanently close 25 sites, according to reports. The cinema chain is expected to confirm the closures when it announces a restructuring plan on Friday (July 26), according to Sky News.

The number of jobs lost as a result of the closures is understood to be “at least in the hundreds”.

It has been reported that the chain will seek renegotiated rents for approximately 50 more theaters, with the remaining approximately 25 sites untouched by the lawsuit.

Distressed businesses often use this strategy in an attempt to reduce operating costs and help retain more physical properties.

The group, which also runs the Picturehouse chain, is among film firms hit by the rise of streaming services, release delays following actor and writer strikes and the rising cost of living for customers.

Financial services firm AlixPartners is understood to be acting as an adviser during the trial.

It appears that other cinema operators may be stepping in to take over some of the Cineworld sites.

Which Cineworld cinemas are at risk?

Here is the full list of all sites currently operated by Cineworld in the UK and Ireland:

1. Cineworld Queens Links, Aberdeen

2. Cineworld Union Square, Aberdeen

5. Cineworld Ashton-under-Lyne

10. Cineworld Broad Street, Birmingham

11. Cineworld NEC, Birmingham

12. Cineworld Boldon Tyne and Wear

19. Cineworld Burton upon Trent

20. Cineworld Bury St Edmunds

24. Cineworld Chesterfield

27. Cineworld Dalton Park

37. Cineworld Parkhead, Glasgow

38. Cineworld Renfrew Street, Glasgow

39. Cineworld Silverburn, Glasgow

40. Cineworld Gloucester Quays

41. Cineworld Harlow – Harvey Centre

42. Cineworld Harlow – Queensgate

44. Cineworld Hemel Hempstead

45. Cineworld High Wycombe

53. Cineworld Bexleyheath, London

54. Cineworld Enfield, London

55. Cineworld Feltham, London

56. Cineworld Hounslow, London

57. Cineworld Ilford, London

58. Cineworld Leicester Square, London

59. Cineworld South Ruislip, London

60. Cineworld The O2 Greenwich, London

61. Cineworld Wandsworth, London

62. Cineworld Wembley, London

63. Cineworld West India Quay, London

64. Cineworld Wood Green, London

65. Cineworld Loughborough

67. Cineworld Middlesbrough

68. Cineworld Milton Keynes

69. Cineworld Newcastle upon Tyne

70. Cineworld Isle of Wight, Newport

71. Cineworld Spytty Park, Newport

72. Cineworld Northampton

78. Cineworld Rushden Lakes

86. Cineworld Stoke-on-Trent

87. Cineworld Regent Circus, Swindon

88. Cineworld Shaw Ridge, Swindon

93. Cineworld Weston-super-Mare

97. Cineworld Wolverhampton

Why is Cineworld closing these cinemas?

In July 2024, Cineworld was said to be considering a major restructuring, which could include closures.

Restructuring allows a company to rework its balance sheet, restructure debt and free up cash in the business.

It comes after Cineworld emerged from US Chapter 11 bankruptcy late last year.

When a company files for Chapter 11 bankruptcy, it means it intends to reorganize its debts and assets while remaining in business.

The company’s shares are also down nearly 99% in the five years to 2023 due to the Covid-19 pandemic and the forced closure of its cinema sites.

Cineworld UK then collapsed into administration on 31 July.

When did Cineworld first open?

The first Cineworld opened in Stevenage, Hertfordshire in July 1996. A second Cineworld opened the following year in Wakefield, West Yorkshire.

VaselineJuly 28, 2024

0 2 minutes read

Vaseline

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