Is Cineworld closing? Full list of 129 cinemas at risk across UK and Ireland as chain struggles to find buyer

Cineworld’s cinemas are still open as usual during the bankruptcy proceedings

27th Feb 2023, 1:29pm

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More than 100 cinemas across the UK are at risk of closure if Cineworld fails to find a buyer after it fell into administration last autumn.

The major cinema chain hopes to be back from bankruptcy protection before the middle of the year, but the debt-ridden business expects any deal with its creditors will wipe out its shareholders.

The world’s second-largest cinema chain said on Friday (24 February) that it had been approached by “a number” of potential suitors, but none of them had been willing to pay in cash to buy the whole business.

The chain may have been hoping for a sale but it was always seen as unlikely it would find someone who was willing to take over the business and deal with its $6 billion (£5 billion) pile of debt.

Cineworld at Xscape is at risk of closure

Cineworld at Xscape is at risk of closure

Cineworld has said “there is a route” to emerging from the so-called Chapter 11 bankruptcy proceedings but added, “the company does not believe that there will be sufficient creditor support for a plan that contemplates any recovery for equity interests”.

It is thought any rescue deal for the business will mean handing over control to the companies and people Cineworld owes money to - and shareholders are unlikely to get anything back.

Cineworld’s 129 cinemas – which include Picturehouse – are still open as usual during the bankruptcy proceedings.

On Friday, Cineworld said: “The company has now received non-binding proposals from a number of potential transaction counterparties for some or all of the group’s business. None of these proposals involves an all-cash bid for the entire business.

“The company is reviewing such proposals in conjunction with its advisers and key stakeholders and, whilst no decision has been made as to whether to pursue a sale transaction, and the terms of any such transaction remain uncertain, based on the proposals received to date, it is not expected that any sale transaction will provide any recovery for the holders of the company’s equity interests.”

Which Cineworld cinemas are at risk of closure?

Cineworld has 103 cinemas under the Cineworld brand across the UK and the Republic of Ireland and a further 26 under Picturehouse brand. The future of the following 129 theatres remains uncertain:

Cineworld cinemas at risk of closure

Cineworld Picturehouse venues at risk of closure

Ashford
Bath - Little Theatre Cinema
Brighton - Duke of York’s
Brighton - Duke’s at Komedia
Cambridge - Arts
Edinburgh - Cameo
Exeter
Henley-on-Thames - Regal
Liverpool - Fact
London - Bromley
London - Clapham
London - Crouch End
London - East Dulwich
London - Finsbury Park
London - Fulham Road
London - Greenwich
London - Hackney
London - Picturehouse Central
London - Ritzy
London - Stratford
London - The Gate
London - West Norwood
Norwich - Cinema City
Oxford - Phoenix
Southampton - Harbour Lights
York - City Screen

Cineworld Cinemas

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