A HUGE cinema chain with a hundred branches is to permanently close one of its London branches today.
Picturehouse is preparing to move out of Fulham Road after approximately five years in West LondonArray.
Fulham Road has been home to a cinema since the 1930s and underwent a lavish art deco renovation in 2019.
In a post on X, formerly Twitter, Fulham Road Picturehouse said: “We are very sorry to announce that we have made the difficult resolution to close Fulham Road Picturehouse from Thursday 11 July.
“Until then, you can continue with everything we have to offer you; We hope to see you soon. “
Movie fans took its closure harshly.
One visitor said that cinema “had been a part” of his life and that his departure had left him “sad”.
An article from a Google online review read, “I’m quite unhappy that this theater has closed its doors. It’s been an important component of my life over the years, living in London. I watched Star Wars: The Phantom Menace here with my dad. Very memorable moments.
“It’s a great old building. The staff has been excellent. There’s a sumptuous feel inside. I think you deserve to make the most of the cinema before it closes next month. Sad moments”.
Another praised the “beautiful” cinema and praised the staff.
They said: “A theatre has many art deco characteristics.
“The seats are very comfortable. The staff is very helpful and friendly. I had a hard time downloading the price ticket because my phone is old and I left it at the last minute, but the problem was temporarily fixed.
On X, a fan said, “Our little Picture House in our small town recently reopened and is busy.
“But it’s still unbearable that the good looks of Fulham Road are no longer good. “
This comes as London moviegoers are set to suffer another blow, with Picturehouse also closing its Bromley in the coming weeks.
The official closing date for the south-east London venue will be Thursday 1 August, giving enthusiasts just a few weeks before it closes for good.
Bromley Cinema opened as the Oscar Deutsch Odeon Theater in 1936 and has been owned by several chains, including Picturehouse, since 2019.
Bromley Cinema posted a message on social media, and both sites said they would be reaching out to members soon.
Bromley’s film enthusiasts were shocked by the loss.
One of them said, “I’m absolutely devastated by this as a member. I love cinema and the wonderful variety of films. A beautiful oasis for the arts in Bromley in one beautiful building. “
Elsewhere, owners Picturehouse have shown they will close their Stratford East on July 29.
But it’s not all bad news for lovers of the brand, as in the last six months Picturehouse has opened 3 new cinemas in Ealing, Chester and Epsom.
Many major theater chains have struggled as a result of the pandemic as consumers have become accustomed to streaming movies from home.
Blockbusters like the Barbie and Oppenheimer movie got gamblers back in the movies last year, but that wasn’t enough to keep some theaters afloat.
Cineworld, Picturehouse’s parent company, has struggled over the past year.
Last week, the company reportedly finalized 25 sites in the United Kingdom as part of a new cost-cutting plan.
The chain will also renegotiate the lease contracts for around fifty of its facilities.
Distressed corporations do this to reduce their operating prices and retain more of their physical assets.
The Sun understands that Cineworld is a creditor and will officially obtain the plans in the coming weeks.
At the time, a Cineworld spokesperson told The Sun: “We continue to review our options but comment on rumors and speculation. “
This follows the brand’s exit from Chapter 11 bankruptcy in the US that expired last year.
Filing for Chapter 11 bankruptcy means that a business intends to reorganize its debts and assets while remaining in business.
At the time, the long history of the chain’s 129 British and Irish cinemas was under threat.
Elsewhere, Omniplex, Ireland’s largest cinema chain, took over five Empire Cinema screens that expired last year.
The move comes after the British chain fell into administration, occupying the bottom six spots with immediate effect.
Seven of the 14 spots were left open, of which have already been served through Omniplex.
Omniplex, which already operates 38 cinemas on the island of Ireland, said openings would be announced in 2024.
The EMPTY department store has become a real horror on many of Britain’s main streets and symbolises the decline of a city centre.
Ashley Armstrong, business editor at The Sun, explains why so many shops have closed their doors.
In many cases, stores are your last outlets because they no longer make as much money as they once did due to online shopping.
Falling in-store sales and rising staff prices have made it even more expensive for retail outlets to reopen. In some cases, shops close one and reopen a new one across a major street to reflect a city’s evolution.
The challenge is that when a branch closes, footfall decreases on the main local streets, putting more retail establishments in danger of closing.
Retail parks are becoming popular with buyers, who need to be able to park smoothly and comfortably at a time when city councils have higher parking fees in cities.
Many retailers, Next and Marks
Chief Stuart Machin recently said that when he moved an old Chesterfield store to a new branch in a shopping park 800 yards away, his sales jumped as much as 103 percent.
In some cases, retail outlets have closed when a store went bankrupt, as in the case of Wilko, Debenhams Topshop, Dorothy Perkins, and Paperchase, to name a few.
What is not unusual is that when a chain goes bankrupt, a rival store or personal equity firm seizes the rights to the intellectual assets so they can own the logo and sell it online.
They would possibly open a handful of outlets if there was visitor demand, but there are rarely so many outlets or in the same locations.
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