Reactions in Watford were mixed after it was announced Cineworld could go bust as the company “prepares to file for bankruptcy within weeks”.
Cineworld shares dived by two-thirds within minutes of reports by the Wall Street Journal that the world’s second biggest cinema business has hired lawyers to advise the bankruptcy process.
Some in Watford were “devasted” by the news, while others felt that the atria cinema was already too expensive.
Read more:
- Hertfordshire NHS trust's 'virtual hospital' tech shortlisted for award
- Anthony Joshua speaks on Watford background after loss
- Lorry hits Woodmere Avenue width restriction sign
Cineworld Unlimited member James Lindsay said: “I’m pretty devastated and hope the Cineworld in Watford doesn’t close.
“I go there at least twice a month and it’s one of my favourite places.
“Seeing films in the cinema is something I actually find very therapeutic, so long may it continue.”
Others were concerned about a larger pattern of town centre attractions disappearing.
In response to the bankruptcy news on the Observer’s Facebook page, Louise Rusher commented: “This and WFC are only reasons I venture into Watford town now”
Nikki Martin added: “This would be a real shame.
“I love this cinema, great seats and cleanliness, worth that little bit more.”
Some were less forgiving of the prices.
Kevin Knight said: “Maybe if they lowered their prices more people would go.”
Steve Bishop was among those who compared the prices with Vue: “Not surprised at all, everyone looked at their ticket prices and then trotted off down to VUE to watch a movie for half the price.”
A major concern is what will happen to the thousands of workers at Cineworld’s 127 UK cinemas.
Another reader, Sarah Child said: “I like having a cinema in the town centre.
"Also, think of all the jobs that will be lost, not just in Watford but nationally.”
Head of entertainment and media union Bectu, Phillippa Childs said: “This is very worrying news, not least for the UK’s Cineworld and Picturehouse workforce who have already been through a tumultuous time during the pandemic.
“We will do everything we can to support our members during this challenging time and will be looking to Cineworld to mitigate the impact of any bankruptcy arrangements on its employees.”
The chain has not publicly responded to the bankruptcy claims.
Cineworld has been contacted for comment.
Have you got a story for us? You can contact us here.
Follow us on Facebook, Twitter and Instagram to keep up with all the latest news.
To receive breaking news alerts or newsletters sign up here.
Comments: Our rules
We want our comments to be a lively and valuable part of our community - a place where readers can debate and engage with the most important local issues. The ability to comment on our stories is a privilege, not a right, however, and that privilege may be withdrawn if it is abused or misused.
Please report any comments that break our rules.
Read the rules hereLast Updated:
Report this comment Cancel