It's a concerning time for the cinema chain
Cineworld bosses have provided an update on the business after the chain fell into administration. Cineworld first announced last year that it had filed for bankruptcy in America due to issues including declining audience numbers after the coronavirus pandemic.
The company operates around 130 cinemas in the UK, one of which is based at The Cornerhouse building in Nottingham. In an update from Cineworld on Friday , the business said it had been approached by potential suitors interested in a takeover. But it said none of the interested parties were reportedly willing to pay cash for the company, the Mirror reports. Cineworld confirmed: "The company has now received non-binding proposals from a number of potential transaction counterparties for some or all of the group’s business."None of these proposals involves an all-cash bid for the entire business.
Cineworld is one of the main brands located in The Cornerhouse, which is the home of several high street restaurants and bars as well as The Lost City Adventure Golf. The Cornerhouse itself first opened in 2001 after a £50 million build which took place over two years. It comes after managers of the Genting Casino recently announced the closure of their Nottingham venue, which is also situated in The Cornerhouse. The company said it followed a consultation with staff and bosses and that the decision was due to "commercial considerations".
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