Struggling Cineworld to close two cinemas in the South West

Cineworld has confirmed two cinemas are to close in the South West as part of national cost-cutting plans.

The cinemas in Yate and Swindon will shut in “late September 2024” if the cost-cutting plans get legal approval.

Four other cinemas across the UK are to close as part of the firm’s restructuring plans.

A statement from the chain on Saturday described the cinemas as “commercially unviable”.

The statement said: “Against a background of increasingly high and unsustainable operating costs, the business is set to implement a restructuring plan that will enable it to address its lease portfolio and rental terms with landlords in the UK.”

The chain hopes it will “return our business to profitability” and “ensure a sustainable long-term future for Cineworld in the UK”, it added.

Staff at cinemas earmarked for closure will be “offered redeployment at nearby sites” wherever possible.

The statement added “the total number of impacted sites cannot be confirmed until the process is complete”.

According to reports the restructuring plan could see as many as 25 UK cinemas close.

Cineworld currently operates more than 100 sites in the UK, including at the Picturehouse chain.

The firm’s multibillion-dollar debt mountain led it into crisis, though, and forced the company into Chapter 11 bankruptcy protection two years ago.

Cineworld delisted from the London Stock Exchange last August, having seen its share price collapse amid fears for its survival.