Cineworld plans to close 25 UK cinemas and renegotiate rents at 50 sites due to debt and weak audience numbers.
UK-based cinema chain Cineworld is considering closing 25 of its 100 cinemas in the country as part of a restructuring plan, while also renegotiating rent agreements at 50 of its sites. The company delisted from the London Stock Exchange last year and is reportedly struggling with significant debt and weaker-than-anticipated audience numbers. The closures and rent renegotiations are expected to be announced to creditors soon.
July 04, 2024
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