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Regal Owner Cineworld to Shut Six More U.K. Locations Amid Restructuring
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British exhibition giant Cineworld is closing a total of 11 theaters across the U.K. as part of a completed restructuring plan aimed at stabilizing the chain’s operations heading into 2025.

Five locations – Glasgow Parkhead, Bedford, Loughborough, Yate and Swindon Regent Circus – were shuttered following the plan’s July announcement. Six additional sites in Castleford, Leigh, Middlesbrough, Northampton, Poole and Weymouth will close after landlords opted to reclaim those properties.

The restructuring secures £40 million ($50.9 million) in new liquidity while freeing up £35 million ($44.5 million) for cinema upgrades. The company negotiated reduced rents at several remaining U.K. locations to align with market rates.

“The successful completion of our Restructuring Plan, achieved with the crucial support of our landlords, protects thousands of jobs across the U.K. and provides us with the financial stability to continue investing in delivering extraordinary experiences for our valued customers,” said Javier Sotomayor, president of Cineworld International.

The U.
See full article at Variety Film + TV
  • 12/11/2024
  • by Naman Ramachandran
  • Variety Film + TV

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