CINEWORLD is reportedly planning to shut a quarter of its 100 cinemas in Britain after the cost-of-living crisis hit sales.

The cinema chain is preparing to outline formal restructuring plans and will seek renegotiated rents on around 50 other cinemas, with the remaining 25 or so to be unaffected, Sky News reported.

The US company, which also runs the Picturehouse chain, was listed on the London Stock Exchange until last year, when, billions of dollars in debt, it was taken over by investors and hedge funds.