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Insider UK
Business
Kris Gourlay

First phase of Edinburgh Filmhouse plans submitted

The first phase of plans to re-open the Edinburgh Filmhouse have been launched.

The building on Lothian Road is set to undergo both internal and external works throughout the rest of the year and into 2024, with an application lodged which would see an 'illuminated' mesh weave banner erected on scaffolding.

According to the applicant, this would be in place for eight months.

The cinema ceased trading last October and was put up for sale a month later, before eventually being bought by Caledonian Heritable for £2.65m in April.

Talks are still ongoing to determine the future of the building, but it has been reported that it could operate as a bar and restaurant.

Caledonian Heritable also own The Dome, Ryan's Bar and the Theatre Royal. The company has written to the city council expressing a desire to carry out work on the building which could last until January 2024.

A planning report stated: "The application site was formerly used as a film screening venue which has now closed, the current development by the new owner is intended to bring the property back into operation commercially.

"The owners are undertaking like for like exterior refurbishment of the property."

The property is category B listed, situated in the West End Conservation area and a World Heritage site.

Cineworld is filing for administration as part of UK restructuring plans (PA)

Separately, Cineworld has stated that it will file for administration in the UK, as part of a restructuring plan.

The cinema giant, which owns the Fountain Park Cineworld and Cameo Picturehouse in Edinburgh, said it will apply for its London-listed company in July, which will see shares in the firm suspended.

The PA News Agency reported that it stressed the move will not impact the British operations for the holding company, with cinemas continuing to remain open as usual.

Cineworld has 128 cinemas across the UK and Ireland.

It filed for Chapter 11 bankruptcy in the US last year after being weighed down by debts and weaker-than-hoped-for audience numbers.

The group, which also owns the Picturehouse brand, is moving forward with plans to restructure its £3.9bn debt pile to allow it to exit bankruptcy.

It aims to reduce debts by around £3.6bn, with a plan to raise £628m through a rights offering, while also securing £1.1bn of new debt financing. The restructuring plan is set to wipe out shareholders, in order to support its lenders and creditors.

A statement read: “Cineworld continues to operate its global business and cinemas as usual without interruption and this will not be affected by the entry of Cineworld Group into administration.

“The group and its brands around the world - including Regal, Cinema City, Picturehouse and Planet - are continuing to welcome customers to cinemas as usual.”

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