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The impending closure of two Picturehouse cinemas in London has thrown a spotlight on the chain’s struggling owners, Cineworld. And the outlook is worrying for multiplex-goers across the UK.
Sky News reports that Cineworld is considering closing a quarter of its UK cinemas in a major restructure of its debt-laden business.
Cineworld, which is working with consultants AlixPartners on the restructure, operates more than 100 cinemas across the country.
The plans would leave the following 12 Cineworld sites in London in danger of closing:
South Ruislip
Bexleyheath
Enfield
Feltham
Hounslow
Ilford
The O2 Greenwich
Wandsworth
Wembley
West India Quay
Wood Green
Leicester Square
Sky’s source indicate that Cineworld plans to present its plans to creditors and landlords in the next few weeks, so expect more news on the potential closures this summer.
A Cineworld spokesperson said: ‘We continue to review our options but we don’t comment on rumours and speculation.’
Cineworld’s flagship Leicester Square site was refurbished as recently as 2018 and refitted with an IMAX 4K laser projection IMAX screen.
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