Movies

Cineworld confirms 6 more cinemas closing in the UK

BBG News

As a dedicated cinema-goer with years of movie memories etched into my heart, I can’t help but feel a pang of sadness as I hear about the closure of six more Cineworld cinemas across England. The silver screen has been my escape, my sanctuary, and my source of endless joy for as long as I can remember.

Six additional Cineworld cinemas in England will be shutting down, according to the company’s restructuring strategy.

11 Cineworld locations have now closed in the UK by the end of 2024, with an additional five having shut down earlier in October.

Here are the locations where Cineworld cinemas will be closing: Castleford, Leigh, Middlesbrough, Northampton, Poole, and Weymouth.

Currently, UK cinemas are experiencing a prosperous phase due to the impressive box office earnings of three hit movies: “Wicked” (earning £37.7 million so far), “Moana 2” (grossing £21.5 million) and “Gladiator 2” (making £26.6 million).

The Restructuring Plan has been successfully carried out, with its purpose being to ensure the long-term viability and financial success of Cineworld’s UK cinemas. This move allows the company to tackle excessive operational expenses that were previously unsustainable.

The plan included cost-saving initiatives such as the reduction of rents to market level at several UK sites, safeguarding thousands of jobs across the UK.

Consequently, six additional sites have had to close down following the decision of landlords to take back possession of their properties.

Cineworld now holds extra financial resources and plans to inject up to £35 million towards renovating and improving their current movie theaters.

Javier Sotomayor, President of Cineworld International, stated that the successful implementation of our Restructuring Plan, made possible by the vital backing of our landlords, safeguards thousands of jobs in the UK and grants us the financial security to persistently invest in providing exceptional customer experiences.

Reaching this significant point paves the way for a more radiant tomorrow, empowering Cineworld to keep spreading happiness in communities all over the UK for numerous years ahead.

Due to recent shutdowns, Cineworld currently manages 89 movie theaters within the UK and oversees an additional 25 Picturehouse cinemas. The latest closure of 13 sites complements the two cinemas that ceased operations in 2023. This downsizing occurred after Cineworld sought bankruptcy protection in the United States, a move made public in September 2022.

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2024-12-10 18:19

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