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Cineworld to see at least 25 cinemas close and hundreds of jobs axed
Cineworld is reportedly set to close 25 sites and axe hundreds of jobs in a major restructure as the chain is expected to launch the closures later this summer
Earlier this month, reports suggested that Cineworld was planning to close about a quarter of its UK cinemas as part of its latest restructuring. Sky News reported that the group, which went private last year, will also seek renegotiated rents on approximately 50 other cinemas, leaving the remaining 25 sites unaffected by the process. The group was a fixture on the London Stock Exchange until last year, when it fell into the hands of investors and hedge funds due to its crippling multibillion-pound debt.
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