Cineworld in Talks With Landsec, L&G on Restructuring Plan: Sky

Cineworld is in “active discussions” with Landsec and Legal & General on a restructuring plan that would see up to 25% of its British cinema estate close, Sky reports, citing people familiar with the matter.

• Company proposes closing about 25 sites, with rent reductions sought at a further 50
• Cineworld has more than 100 sites in Britain, with Landsec and L&G owing about 30 cinema complexes, according to Sky
• Landsec and L&G declined to comment to Sky

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To contact the reporter on this story:
Gabriela Mello in London at gmello4@bloomberg.net

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