Cineworld is reportedly set to close around 25 UK cinemas and axe hundreds of jobs under a new plan to save the ailing screen chain.
The cinema operator will publish details of a restructuring plan on Friday that will result in the site closures across the UK.
Sources said around half a dozen Cineworld cinemas would begin a closure process immediately and shut for good this summer, according to Sky News.
The company has been in preliminary talks with large commercial landlords, including Landsec and Legal & General, about the restructuring plans.
Cineworld is reportedly set to close around 25 UK cinemas and axe hundreds of jobs’ under new plan to save the ailing screen chain
Cineworld customers have said the chain has priced them out of trips to the movies
The company has faced problems of people not returning to the cinema post-pandemic and instead increasingly choosing to stay at home and watch new releases on streaming services
Some landlords are reportedly considering rejecting the proposals, but it remains unclear whether this would be in sufficient number to stop the restructuring plan.
The company is being advised by AlixPartners.