Moviegoers were left devastated after discovering that a major cinema chain had lowered the shutters at one of its sites.
The owners of Picturehouse have shown that they will close their East Stratford on July 29.
It comes after Cineworld, which operates the cinema chain, announced it would close two Picturehouse sites in Bromley and Fulham Road, London.
The two sites will be closed to the public on August 1 and July respectively.
A spokesperson for Picturehouse said the company had made the difficult decision to close all three theaters due to “rising operating prices and declining admissions. “
They commented: “Picturehouse members will be contacted in the coming days about their remaining club time.
“We would like to thank our hard-working groups and our unwavering consumers for their efforts over the years. “
The spokesman said Picturehouse had opened three new cinemas in the past six months in Ealing, Chester and Epsom.
The Picturehouse club program is chargeable and allows you to get free movie tickets, as well as discounts on food and drinks.
Moviegoers and moviegoers have shared their dismay after the Stratford East branch closed permanently.
On Facebook, one of them said: “The first cinema I’m a member of. It is a real shame that it closes. “
At one point he commented, “Oh no, this is annoying. I’m a member and it was the cheesiest position to approve and they did all the special nights, etc. , gutted. “
A third chimed in furious: “A despicable decision. “
A fourth added: “It’s a shame I’m leaving. “
Earlier this month, Cineworld reportedly evaluated its features and a primary restructuring, which could come with closures.
Sky News reported that the chain, which at the time operated 100 cinemas under the Cineworld logo in the United Kingdom and Ireland and 28 under the Picturehouse logo, was working with restructuring adviser AlixPartners on a plan that could lead to a sale or restructuring.
According to the broadcaster, such a resolution could simply “expose an unknown number of British cinemas to the threat of closure. “
A restructuring plan for a company to rework its balance sheet so that it can restructure its debts and lose money in the company.
At the time of the report’s publication, a Cineworld spokesperson said it was “continually reviewing” its UK operations “like many companies”.
This came after Cineworld emerged from Chapter 11 bankruptcy in the United States that expired last year.
Filing for Chapter 11 bankruptcy means that a company intends to reorganize its debts and assets while remaining in business.
At the time, the long history of the chain’s 129 British and Irish cinemas was under threat.
The company’s shares plunged about 99% in the five years to 2023 as it was hit hard by the pandemic and the forced closure of its movie theaters.
Since then, the company has posted significant losses and has also come under pressure from platforms that offer streaming services, such as Netflix and Amazon Prime.
In August 2023, the company hired 28,000 people worldwide, with operations in 10 countries.
Cineworld is the only channel in difficulty. Odeon has announced that it will close five of its branches in May last year.
Empire Cinema closed several sites in 2023 after going into management in July of that year.
The company made the decision after “a thorough evaluation of all available options. “
The hotel industry is struggling.
In April, families’ favorite restaurant chain, Whitbread, revealed that it would close more than 200 locations and eliminate 1,500 jobs.
The organization shared its plans in its annual results, saying it planned to convert 112 restaurants into hotel expansions, while ultimately 126 establishments would “generate losses. “
Pub giant Wetherspoons also closed bars across the United Kingdom and Byron Burger stepped down from the management last year.
In March, the Papa Johns pizzeria announced the closure of dozens of establishments.
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