Cineworld to shut 25 UK cinemas and cut hundreds of jobs
dailyrecord.co.ukCineworld is reportedly on the brink of closing 25 of its cinemas and cutting hundreds of jobs in a major restructuring move, according to Sky News.
The cinema chain is expected to announce the details of the plan tomorrow.Approximately 25 Cineworld locations are slated for closure later this summer, with around half a dozen potentially shutting their doors "immediately".
An additional 50 sites will enter into negotiations for rent reductions.While the exact number of job losses remains uncertain, sources suggest it could be at least in the hundreds.
Earlier this month, reports emerged that Cineworld was considering closing about a quarter of its UK cinemas as part of its latest restructuring efforts.The cinema chain, which operates roughly 100 sites nationwide, is anticipated to initiate closures as part of a formal restructuring plan.
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