Major UK cinema chain shutting five sites within days - but one location saved
A full list of Cineworld sites closing forever after administration has been confirmed. Cineworld, which is rivalled by Odeon and VUE, as well as Showcase and the Everyman, says it will close its sites across Glasgow Parkhead, Bedford, Loughborough, Yate and Swindon Regent Circus in just a matter of days.
A cinema in Hinckley will be saved after originally being marked for closure alongside the other five. Glasgow Parkhead (closing October 6), Bedford (closing October 6), Swindon Regent Circus (closing October 6), Loughborough (closing October 13) and Yate (closing October 13) will shutter.
Hinckley and Bosworth Borough Council leader Stuart Bray said in a statement: “This is excellent news for the town, for the taxpayer, for Cineworld employees and for local businesses. Not only does it safeguard the future of this great facility in Hinckley town centre it also ensures the taxpayer continues to receive a rental income from Cineworld which helps to fund our public services.
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“High Streets up and down the country are facing challenging times, but Hinckley is bucking that trend with retail occupancy rates and footfall above the Midlands average along with a great range of independent and national businesses. We want it to stay that way, so we’ve taken the necessary action to ensure we do that.
“The amount of interest we’ve had from alternative cinema operators for this site shows that keeping the facility is the right decision. I thank those operators for coming forward and for the interest they have shown in Hinckley.”
Cineworld was on the brink of collapse without their approval, the hearing was told. The four companies, which run 101 sites and employ 4,401 staff, form part of a wider group which operates cinemas in 10 countries, including the US under the Regal Cinemas brand.
Following the ruling, a Cineworld spokesperson said: "We are pleased the court has approved our restructuring plan. This will enable us to re-set the business for the long-term and ensure a sustainable future for Cineworld in the UK.”