Cineworld in Milton Keynes reopens after suspending UK screens last year to seek new funding

    Cineworld has reopened in Milton Keynes today (19/5) after suspending all screens in October 2020 to seek new funding.

    The cinema giant, which operates in the UK and US, had taken a large financial hit during the pandemic and in July 2020 reported half-year losses of $1.6bn (£1.3bn).

    Cineworld had decided to close its UK cinemas, prior to lockdown, to allow the company to sort out its finances.

    And now, six months later, Cineworld has opened with plans to bounce back in time for much-anticipated blockbuster releases.

    The Xscape-based cinema is currently showing Peter Rabbit 2, Godzilla vs Kong, Judas and the Black Messiah and will soon be showing Cruella, a live-action movie about Disney villain Cruella de Vil, starring Emma Roberts.

    A multi-year agreement with Warner Bros has also been agreed meaning for an exclusive 31-day period, Cineworld can show the studios' films prior to them being available on streaming services.

    The deal will also give it an extended window of 45 days for films that open to an agreed-upon box office threshold.

    "We are very happy for the agreement with Warner Bros," chief executive Mooky Greidinger said.

    "This agreement shows the studio's commitment to the theatrical business and we see this agreement as an important milestone in our 100-year relationship with Warner Bros."

    Today marks what the company hopes will be the end of a difficult year.

    This is not the only cinema that has reopened in Milton Keynes; Odeon at MK1 has reopened its doors showing the above Hollywood blockbusters.

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