Cineworld planning to close 25 cinemas following Picturehouse closures
Cineworld is reportedly planning to close around a quarter of its cinemas.
The chain, which has around 100 cinemas across the UK, is looking at closing 25 of the sites as part of restructuring plans, according to Sky News.
The company is also aiming to renegotiate rent agreements at another 50 of the sites, while the remaining 25 will remain intact.
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A Cineworld spokesperson told Digital Spy in response to the reports: "We continue to review our options but we don't comment on rumours and speculation."
Cineworld is also the parent company of Picturehouse, which recently confirmed that three of its London sites would be closing in the coming months – namely its venues in Fulham Road, Bromley and Stratford East.
"We've made the difficult decision to close Fulham Road, Stratford East and Bromley Picturehouse this summer," the company said in a statement. "Each are beloved cinemas but increasing operational costs and declining admissions at these venues have left us with no other choice."
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Fans have expressed their dismay at the closing of the sites and what this will mean for watching new releases, many saying that it was a "shame" and they were "gutted" over the news, one adding: "Why has this decision been made? And is there anything we can do to reverse it?"
Cineworld has faced mounting troubles in recent years, with the company filing for Chapter 11 bankruptcy protection back in 2022.
This has allowed the company to continue operations and reorganisation efforts while negotiating with creditors, and it has since appointed new leadership.
It was recently reported that Cineworld was looking to either restructure its business or sell up the organisation entirely. The latest changes will reportedly be outlined with creditors on a formal basis in the next few weeks.
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