Cineworld Hinckley at risk of closure

Cineworld has confirmed that its screens in Hinckley could close to save money.

Hinckley is one of six sites earmarked for closure as part of a restructuring programme. 

Statement from Cineworld

"We regret that Cineworld Hinckley is at risk of closure. At the moment the cinema is open as usual, and we will update at the end of September when the legal process is complete."

If the plans get legal approval Hinckley's screen could close in September. 

The other screens at risk of closure are:

• Glasgow Parkhead

• Bedford

• Hinckley

• Loughborough

• Yate

• Swindon - Regent Circus.

A statement to Sky News described the sites as "commercially unviable".

It 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.

Its thought staff will be "offered redeployment at nearby sites."

Cineworld currently operates more than 100 sites in Britain, including at the Picturehouse chain, and employs thousands of people, although its public relations adviser has refused to confirm either figure.

The chain was reportedly in financial difficulty in 2022. At a full council meeting in September 2022, Hinckley and Bosworth Borough Council discussed the possible collapse of the cinema group disclosing that it had signed a 25-year lease on the building in The Crescent which began in 2016. The meeting heard that the rent was £125,234.00 for 2022/23 with a service charge of £25,273.12. The business rates were £48,640.00 of which 40% is retained by HBBC.

We have contacted Hinckley & Bosworth Borough Council for a comment.