BARNSLEY town centre’s Cineworld branch hailed as the flagship signing of its £210m regeneration will not close down following reports that it was earmarked for closure or rent negotiations.
The chain announced last week that it was considering 25 branches for closure, or to negotiate the rent with landlords and Barnsley’s had appeared on the shortlist.
However, it has been confirmed this week that its Glass Works venue will not close, nor do bosses intend to renegotiate rent costs with Barnsley Council.
Six Cineworld branches will start closure proceedings immediately, shutting their doors for good this summer.
However, bosses said they had made the decision ‘against a background of increasingly high and unsustainable operating costs’.
A spokesperson said: “We are implementing a restructuring plan that will provide our company with a strong platform to return our business to profitability, attract further investment and ensure a sustainable long-term future for Cineworld in the UK.
“The company’s proposal is primarily to reduce rent to market level at some UK locations and to exit six sites Glasgow Parkhead, Bedford, Hinckley, Loughborough, Yate and Swindon Circus that are commercially unviable, so that the business can return to profitability.”
Heralded as the marquee signing of the regeneration having agreed to a 20-year lease, the 13-screen complex caters for 2,000 filmgoers at the giant 18,000sq ft site.
The council lauded Cineworld’s supposed ‘strong performance’ in the town centre.
Coun Robin Franklin, cabinet spokesperson for regeneration and culture at Barnsley Council, said all of the Glass Works’ tenants will be supported to make the regeneration which has substantially increased footfall a long-term success.
“We are aware of the recent reports and announcements concerning Cineworld’s restructuring plan, including their plans to close certain branches and renegotiate rent agreements with landlords,” he added.
“We have not received any indication that the Barnsley branch is among the cinemas being considered for closure or rent renegotiation.
“While the situation is still evolving, we are encouraged by the strong performance of the Glass Works and the positive feedback from our tenants, including Cineworld who are looking forward to a summer of headline releases including Deadpool and Wolverine, Despicable Me 4 and Twisters.
“Barnsley Council is committed to ensuring the town centre is thriving with an array of retail, health, leisure and hospitality businesses and a dynamic events programme.
“We are committed to building on this momentum and will continue to support all tenants to ensure the continued success of the town centre as an inviting and vibrant destination for both locals and visitors.”
