Cineworld is considering closing a quarter of its UK cinemas, as it looks to cut costs across the business.

Sky News reported that the announcement comes as the firm draws up plans for a restructuring deal, after the cinema operator crashed out of the London Stock Exchange in August 2023.

Cineworld runs more than 100 cinemas across the UK, with up to 25 set to be closed as part of the plans.

It is also set to renegotiate rent deals with landlords on around another 50 venues.

Sources have told Sky News that the proposals are expected to be formally outlined to creditors in the coming weeks.

They went on to add that the insolvency mechanism employed by the cinema was expected to be restructuring plan rather than a company voluntary arrangement (CVA).

AlixPartners is acting as an adviser for the process.

In response to the news, Cineworld said: "We continue to review our options", but declined to comment further.

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