Llandudno....Cineworld bankruptcy sparks fears for Broughton and Llandudno sites!

Something needs to be done to stop this from happening, Apart from the jobs, companies have struggled during Covid, and now need some support.

What exactly are the Welsh Government or the Central Government doing to help people out there whose businesses could be going under at any time now?

The second largest cinema group in the world is reportedly facing bankruptcy - and that could spell the end for its two North Wales sites.

The Wall Street Journal reports that British-based Cineworld is preparing to file for bankruptcy.

They add that the decision comes following struggles to rebuild attendance following the Covid pandemic.

The reports have sparked fears that two much-loved Cineworld sites in North Wales could soon be set to close.

Cineworld also operates the Picturehouse chain and has more than 100 cinemas in the UK in total.

Among those in danger, along with potentially dozens of jobs, are the two sites locally in Broughton Retail Park and Llandudno Junction.

The firm is said to have engaged lawyers from Kirkland & Ellis LLP and consultants from AlixPartners to advise on the bankruptcy process.

It comes after Cineworld warned audience numbers have been weaker than expected and predicted they will stay low until November due to “limited” film releases.

In a statemen,t the firm said: “Despite a gradual recovery of demand since reopening in April 2021, recent admission levels have been below expectations.

“These lower levels of admissions are due to a limited film slate that is anticipated to continue until November 2022 and are expected to negatively impact trading and the group’s liquidity position in the near term.”

Cineworld added that it will 'continue with cost-saving plans' but will also 'look at new options to improve its financial position.