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One of Britain’s biggest cinema chains is in secret talks about a sale as part of a strategic review that could lead to a wholesale restructuring of its business.

Sky News has learnt that Cineworld, whose parent company went through a series of insolvency processes last year, is working with advisers on a potential disposal of its UK operations.

Cineworld, which trades from more than 100 sites in Britain and employs thousands of people, has begun contacting prospective bidders in recent days.

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AlixPartners, the restructuring adviser which handled the administration of Cineworld’s London-listed holding company last year, has been drafted in to work on the process.

City sources said this weekend that the sale process was expected to run for several weeks.

They added, however, that the cinema giant was also expected to explore the option of a company voluntary arrangement (CVA) – a further restructuring process which could put an unspecified number of its UK cinemas at risk of closure.

A spokesman for Cineworld at its public relations adviser, Hill & Knowlton, said he was refusing to provide information about many sites the company operated in the UK or how big its workforce was.

In a statement issued to Sky News, he said: “Like many businesses, we are continually reviewing our UK operations.”

Cineworld grew under the leadership of the Greidinger family into a global giant of the industry, acquiring chains including Regal in the US in 2018 and the British company of the same name four years earlier.

File pic: Geoffrey Swaine/Shutterstock
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File pic: Geoffrey Swaine/Shutterstock

Its multibillion-dollar debt mountain led it into crisis, though, and forced the company into Chapter 11 bankruptcy protection in 2022.

It delisted from the London Stock Exchange last August, having seen its share price collapse amid fears for its survival.

Under the deal which secured its survival, several billions of dollars of debt were exchanged for shares, with a significant sum of new money injected into the company by a group of hedge funds and other investors.

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Cineworld also operates in central and Eastern Europe, Israel and the US.

The sale process only relates to its UK business, according to insiders.

It was unclear whether Picturehouse, which Cineworld also owns, is also part of the auction.

A number of financial investors are expected to examine offers for Cineworld’s UK business, while rival Vue is also likely to assess whether a bid would be viable.

Last year, Sky News revealed that Vue had assembled backing for a takeover of Cineworld, but was frozen out of a process that was eventually abandoned.

Vue itself has undergone a number of financial restructurings but its balance sheet is now on a sustainable footing after dealing with the twin shocks of the pandemic and the Hollywood writers’ strike.

A Cineworld cinema
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Pic: PA

Since it emerged from bankruptcy protection, Cineworld has appointed a new leadership team, installing Eduardo Acuna, who ran Mexican cinema chain Cinepolis’s operations in the Americas, as its chief executive.

Eric Foss, a former Pepsi executive, was parachuted in as Cineworld’s chairman.

One property industry source said that any attempt by Cineworld to pursue a CVA or other restructuring which compromised landlords was likely to be met with fierce resistance.

Major summer film releases in Britain include Despicable Me 4, A Quiet Place: Part One and Alien: Romulus.

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Families of British Air India crash victims ‘feel utterly abandoned’ and hit out at government

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Families of British Air India crash victims 'feel utterly abandoned' and hit out at government

The families of three of the British victims of last week’s Air India crash in Ahmedabad have criticised the UK government’s response to the disaster, saying they “feel utterly abandoned”.

It comes after an Air India Dreamliner crashed shortly after take-off from Ahmedabad airport in western India, killing 229 passengers and 12 crew. One person on the flight survived.

Among the passengers and crew on the Gatwick-bound aircraft were 169 Indian nationals, 53 Britons, seven Portuguese nationals and one Canadian national.

In a statement, the families of three British citizens who lost their lives said they were calling on the UK government to “immediately step up its presence and response on the ground in Ahmedabad”.

The families said they rushed to India to be by their loved ones’ sides, “only to find a disjointed, inadequate, and painfully slow government reaction”.

“There is no UK leadership here, no medical team, no crisis professionals stationed at the hospital,” said a family spokesperson.

“We are forced to make appointments to see consular staff based 20 minutes away in a hotel, while our loved ones lie unidentified in an overstretched and under-resourced hospital.

“We’re not asking for miracles – we’re asking for presence, for compassion, for action,” another family member said.

“Right now, we feel utterly abandoned.”

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The families listed a number of what they called “key concerns”, including a “lack of transparency and oversight in the identification and handling of remains”.

They also demanded a “full crisis team” at the hospital within 24 hours, a British-run identification unit, and financial support for relatives of the victims.

A local doctor had “confirmed” the delays in releasing the bodies were “linked to severe understaffing”, according to the families, who also called for an independent inquiry into the UK government’s response.

“Our loved ones were British citizens. They deserved better in life. They certainly deserve better in death,” the statement added.

Sky News has approached the UK’s Foreign, Commonwealth and Development Office for comment.

Families and friends of the victims have already expressed their anger and frustration – mostly aimed at the authorities in India – over the lack of information.

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Tributes paid to mother-of-four among two skydivers who died in ‘tragic accident’

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Tributes paid to mother-of-four among two skydivers who died in 'tragic accident'

A mother-of-four was among two skydivers who died following a “tragic accident” at an airfield in Devon.

Belinda Taylor was pronounced dead at the scene following Friday afternoon’s incident in the area of Dunkeswell Aerodrome near Honiton.

On Facebook, her partner Scott Armstrong wrote: “I miss you so much, you were my best friend.

“Thank you for everything you’ve done for me, from making my children feel at home to putting up with my mess.

“… there’s just so much that I don’t have the words to express it.

“I feel so lost. I don’t know where home is without you.”

Dunkeswell Aerodrome. Pic: Google Street View
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Dunkeswell Aerodrome near Honiton, Devon. Pic: Google Street View

Ms Taylor’s eldest son, Connor Bowles, paid tribute to a “selfless woman” who was also a grandmother to two young children.

Thanking investigators for their work so far, he told DevonLive: “She will be deeply missed and will leave an everlasting impression on all those she has met in life.”

The identity of the second skydiver who died is yet to be made public, but their family has been informed.

British Skydiving has confirmed it will be investigating the incident – with a report sent to the coroner, the Civil Aviation Authority and the police.

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In a statement, SkydiveBuzz, which operates at the airfield, said its “deepest condolences go out to the families, friends and everyone affected by this devastating event”.

A spokesperson added: “Safety is, and always has been, our top priority. We are fully cooperating with the investigation and continue to uphold the highest possible standards in everything we do.

“No further details will be provided at this time. We respectfully ask for privacy for all those affected, including our team, during this incredibly difficult time.”

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Career spy Blaise Metreweli to become first woman to head MI6

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Career spy Blaise Metreweli to become first woman to head MI6

Career spy Blaise Metreweli will become the first woman to head MI6 in a “historic appointment”, the prime minister has announced.

She will take over from Sir Richard Moore as the 18th Chief, also known as “C”, when he steps down in the autumn.

“The historic appointment of Blaise Metreweli comes at a time when the work of our intelligence services has never been more vital,” Sir Keir Starmer said in a statement released on Sunday night.

“The United Kingdom is facing threats on an unprecedented scale – be it aggressors who send their spy ships to our waters or hackers whose sophisticated cyber plots seek to disrupt our public services.”

Of the other main spy agencies, GCHQ is also under female command for the first time.

Anne Keast-Butler took on the role in 2023, while MI5 has previously twice been led by a woman.

Until now, a female spy chief had only headed MI6 – also known as the Secret Intelligence Service (SIS) – in the James Bond movies.

A motorboat passes by the MI6 building in Vauxhall, London. Pic: Reuters
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Blaise Metreweli is the first woman to be named head of MI6. Pic: Reuters

Dame Judi Dench held the fictional role – called “M” in the films instead of “C” – between 1995 and 2015.

Ms Metreweli currently serves as “Q”, one of four director generals inside MI6.

The position – also made famous by the James Bond films, with the fictional “Q” producing an array of spy gadgets – means she is responsible for technology and innovation.

Ms Metreweli, a Cambridge graduate, joined MI6 in 1999.

Unlike the outgoing chief, who spent some of his service as a regular diplomat in the foreign office, including as ambassador to Turkey, she has spent her entire career as an intelligence officer.

Much of that time was dedicated to operational roles in the Middle East and Europe.

Ms Metreweli, who is highly regarded by colleagues, also worked as a director at MI5.

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In a statement, she said she was “proud and honoured to be asked to lead my service”.

“MI6 plays a vital role – with MI5 and GCHQ – in keeping the British people safe and promoting UK interests overseas,” she said.

“I look forward to continuing that work alongside the brave officers and agents of MI6 and our many international partners.”

Sir Richard said: “Blaise is a highly accomplished intelligence officer and leader, and one of our foremost thinkers on technology. I am excited to welcome her as the first female head of MI6.”

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