Cineworld in High Wycombe is at risk of closing after the business announced it plans to shut approximately a quarter of its UK branches.

The cinema chain, which currently runs around 100 sites across the country, is expected to launch closures as part of a formal restructuring plan.

It has not been confirmed which outlets will depart.

Sky News reported that the group, which was taken private last year, will also seek renegotiated rents on around 50 other cinemas, with the remaining roughly 25 sites untouched by the process.

The group, which also runs the Picturehouse chain, is among cinema firms to have been knocked by the growth of streaming services, delays to releases following actor and writer strikes, and the increased cost of living for customers.

Sky reported that the restructuring proposals were expected to be formally outlined to creditors including landlords in the coming weeks.

It is understood that financial services firm AlixPartners is acting as an adviser during the process.

The group was listed on the London Stock Exchange until last year, when it was taken over by investors and hedge funds after it had been hamstrung by its multibillion-pound debt pile.

The investors exchanged billions of pounds worth of debt for equity in the business, after the group also filed for bankruptcy protection in the US.

It's not the first time that the cinema has been linked with a closure. 

In March 2023, it was recently revealed that the company were over £5 billion in debt, which led to several shutdowns across the country.

The Wycombe branch stayed, but its current long-term future remains uncertain. 

A spokesperson from the cinema said: "We continue to review our options, but we don’t comment on rumours and speculation."