Cineworld at Aspects Leisure Park in Bedford is set to close, as part of a sweeping restructuring plan announced by the Cineworld Group. This closure is among the first six confirmed closures out of the 25 expected across the UK. The company aims to restore profitability and secure its long-term future through these strategic measures.

Details of the Closure

Source: https://www.bedfordindependent.co.uk/bedford-cineworld-amongst-cinemas-due-to-close/

Earlier this week, Cineworld shared plans to close at least 25 of its more than 100 cinemas across the UK. Today, it announced that the first six locations slated for closure include:

• Bedford
• Glasgow Parkhead
• Hinckley
• Loughborough
• Swindon Circus
• Yate

Affected employees have been informed and a consultation period will take place, with Cineworld offering redeployment opportunities wherever possible to mitigate the impact on staff. The restructuring plan, if approved, is set to go into effect in September.

Company's Response and Future Plans

A Cineworld spokesperson commented, "We are implementing a restructuring plan that will provide our company with a strong platform to return our business to profitability, attract further investment from the Group, and ensure a sustainable long-term future for Cineworld in the UK." The total number of locations impacted by this plan won't be known until the process is fully completed.

In September 2022, Cineworld filed for bankruptcy protection in the US amidst efforts to manage nearly $9 billion of debt and lease obligations accrued during an acquisition spree. The Cineworld Group plc was later placed into Administration in the UK on 31 July 2023. Subsequent closures included Cineworld sites in Runcorn and Bristol in November 2023.

Impact on the Community

The Bedford cinema’s closure marks a significant loss for local moviegoers who have frequented the venue for years. Patrons are disheartened by the news but hopeful for potential redevelopment or replacement in the future.

As the restructuring plan progresses, Cineworld promises to keep both its employees and the public informed of further developments. The company’s focus remains on stabilising its financial situation while striving to maintain a presence in many communities across the UK.

Ongoing Developments

This story is developing, and updates will be provided as more information becomes available. Cineworld Group has yet to respond to requests for additional commentary on the situation.

Stay tuned for further updates on this breaking news story.