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Edinburgh Live
Edinburgh Live
National
Sian Traynor

Iconic Edinburgh cinema could be at risk as Cineworld 'prepare for bankruptcy'

Edinburgh's iconic Cameo cinema could be at risk as owners Cineworld are reported to be preparing to file for bankruptcy.

The Tollcross staple has been part of the capital's film scene for decades, and has seen thousands of locals pass through its doors over the years.

Originally an independent cinema, the venue was bought over in 2012 by the Picturehouse chain, which is owned by major firm Cineworld.

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However, this week concerns were raised that the chain is set to file for bankruptcy following low customer levels and the impact of the coronavirus pandemic.

With more than 750 sites worldwide, the company also own the Cineworld venue at Fountain Park in Edinburgh, with the Wall Street Journal reporting that the share price of the company fell over 60 per cent following the news.

Despite hosting large blockbuster films in recent months, the chain said earlier this week: "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."

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