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Regal Owner Cineworld to Shut Six More U.K. Locations Amid Restructuring
U.K. exhibition giant Cineworld is closing a total of 11 theaters across the U.K. as part of a restructuring plan to stabilize the chain's operations.
British exhibition giant Cineworld is closing a total 11 theaters across the U.K. as part of a completed restructuring plan aimed at stabilizing the chain’s operations heading into 2025. “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.K. moves come as parent company Regal Cineworld Group secured a new $1.9 billion term loan facility on Dec. 3, projected to yield $60 million in annual interest savings.
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