Cineworld preparing to file for bankruptcy - will cinema tickets for Leeds branch still be valid?

Watch more of our videos on Shots! 
and live on Freeview channel 276
Visit Shots! now

This article contains affiliate links. We may earn a small commission on items purchased through this article, but that does not affect our editorial judgement.

Leeds theatre’s mother company is preparing to file for bankruptcy amid debt and losses.

Cineworld Group is preparing to file for bankruptcy, according to recent reports from The Wall Street Journal.

The movie theatre chain has one theatre in White Rose Centre in Leeds, which is one of 128 branches in the UK and Ireland and 751 in total around the world, and is the second biggest in the UK after AMC Theatres.

Hide Ad
Hide Ad

The cinema company has struggled to regain their customers after the pandemic lockdowns around the UK, and has reported losses that are predicted to stay until at least the end of November 2022.

Cineworld White Rose Centre in Leeds has 11 screens and iMAX on all their new film premieres.

4kclips - stock.adobe.com

Here is everything you need to know about Cineworld preparing to file for bankruptcy including what might happen to its Leeds branch.

Why is Cineworld filing for bankruptcy?

Cineworld has been struggling with debt in recent years. One of the reasons is the pandemic that saw movie theatres unable to show films on their screens due to lockdowns.

Hide Ad
Hide Ad

In 2021 the company reportedly had £4 billion in debt, and ever since opening up again last year, the company has struggled to attract the amount of customers needed.

Cineworld said in a statement: “Despite a gradual recovery of demand since reopening in April 2021, recent admission levels have been below expectations.

Cineworld in the White Rose Centre faces uncertainty, along with 126 other UK sites.Cineworld in the White Rose Centre faces uncertainty, along with 126 other UK sites.
Cineworld in the White Rose Centre faces uncertainty, along with 126 other UK sites.

“These lower levels of admissions are due to a limited film slate that is anticipated to continue until November 2022 and are expected to negatively impact trading and the group’s liquidity position in the near term.”

The company reported losses of £429 million in 2021 despite once again welcoming customers.

Hide Ad
Hide Ad

What does bankruptcy mean?

Company Debt describes bankruptcy as: “When a company goes bankrupt, it means there is either no cash to pay bills, or more liabilities than assets.”

What will happen to Cineworld White Rose Centre in Leeds and will my tickets still be valid?

As of now, Cineworld White Rose Centre in Leeds has not made an official statement on what will happen to the movie theatre once Cineworld files for bankruptcy.

Cineworld has stated that “the group’s business operations are expected to remain unaffected by these efforts and Cineworld expects to continue to meet its ongoing business counterparty obligations.”

Tickets bought for Cineworld White Rose Centre will still be valid as “Cineworld continues to welcome guests to its cinemas across its global markets as normal, without disruption.”

Related topics:

Comment Guidelines

National World encourages reader discussion on our stories. User feedback, insights and back-and-forth exchanges add a rich layer of context to reporting. Please review our Community Guidelines before commenting.