Cheshire West and Chester Council says it is monitoring the situation with Cineworld, as the company confirmed it is considering filing for bankruptcy in the US.
The Picturehouse chain of cinemas – which is owned by Cineworld – is in the process of fitting out a new six-screen cinema in Chester as part of the forthcoming Chester Northgate development which is due to open later this year.
The council said it noted the recent reports about Cineworld’s financial difficulties, but for now work is still progressing.
It said company bosses have been to visit the site recently, and the fit-out of the new cinema has already begun.
The council’s statement in full:
The council is monitoring the situation at Cineworld who own the Picturehouse chain of cinemas in the UK.
Picturehouse have already begun the fit-out of their cinema at Chester Northgate, and their managing director and senior team recently visited Chester to see progress for themselves.
The council entered into a legal agreement with Picturehouse in August 2016 for the delivery of a new 6 screen cinema.
During the time that the agreement has been in place, Picturehouse was acquired by the Cineworld group.
The council notes recent speculation in the press regarding the Cineworld group which is headquartered in the USA, and are following the situation closely, whilst remaining in contact with Picturehouse in the UK.
The cinema fit-out works are continuing on site.
