Cineworld closes six more cinemas, sparking fierce backlash from moviegoers

Cineworld, the UK-based cinema chain, has recently announced the closure of six additional cinemas as part of its restructuring efforts, increasing the total number of sites closed to 11. The cinemas shutting down are located in Castleford (West Yorkshire), Leigh (Greater Manchester), Middlesbrough, Northampton, Poole, and Weymouth (Dorset). This decision follows earlier announced closures of six sites in various locations, with one site in Hinckley saved after negotiations with the local council. The closures are a response to ongoing financial difficulties faced by Cineworld, which has been significantly impacted by the COVID-19 pandemic and recent strikes by screen actors and writers. The chain underwent an administration process in July 2023, revealing debt estimated at nearly £4 billion. As part of its restructuring, Cineworld aims to address unsustainable operating costs through rent reductions and has secured additional funding to invest in its remaining cinemas. Although the specific impact of job loss at the affected sites is not stated, Cineworld is working to redeploy employees to nearby locations. The restructuring plans have been approved by the High Court, allowing the release of new equity funding to meet immediate financial needs while bolstering access to further capital for future enhancements and refurbishments. With the closure of these cinemas, Cineworld expects to operate 90 cinemas across the UK following the implementation of these financial restructuring measures.