Cineworld Plans Major Restructuring, Closing 25% of UK Cinemas

The cinema chain to renegotiate rents and formally outline restructuring plans to creditors in the coming weeks.

Cineworld to close around 25 out of its 100 UK cinemas as part of a restructuring plan.
The company will seek rent renegotiations for 50 additional sites, leaving the remaining 25 unaffected.
Cineworld faced financial struggles due to the pandemic and filed for Chapter 11 bankruptcy protection in 2022.
The restructuring plan involves advisers from AlixPartners and aims to avoid a company voluntary arrangement.
Other cinema operators may take over some sites if landlords reject Cineworld's proposed terms.