High Wycombe Cineworld at risk of closure as chain goes bankrupt

It comes after the cinema chain fell into administration last year when it filed for bankruptcy. 

However, Cineworld has now shared a statement on the chain's situation, sharing that it has been approached by a "number" of possible buyers. 

However, none of the buyers are willing to buy in cash after it was revealed that Cineworld was more than £5 billion in debt. 

If the chain is not saved it could see all 129 Cineworlds in the UK at risk of closing, including High Wycombe. 

Currently, the chain is still fully operational and open as usual with the company's 28,000 global workers still employed. 

Cineworld gives an update as High Wycombe chain at risk of closing

Cineworld has said that it plans to recover from bankruptcy before the middle of 2023 as a spokesperson for the brand said: 

"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."

The cinema chain fell into administration last Autumn after struggling with attendance due to the pandemic.