Cinema giant Odeon has stepped in to take over the Cineworlds set for closure – promising the “ultimate cinematic experience”.
Financial services company, Legal & General has announced it has secured new agreements with Odeon to take over two cinema sites in Middlesbrough and Northampton.
The firm said Odeon will reimagine these locations with “significant upgrades”.
It comes just weeks, after Cineworld confirmed the closing date for its Middlesbrough site. The branch on Marton Road was listed as one of the six sites to shut their doors as part of its major restructuring plan.
In an email to customers after the announcement, the chain confirmed the Middlesbrough Leisure Park venue will close on January 19.
However, Legal & General say Odeon is set to reopen the cinema “later” in 2025.
A spokesperson said: “As one of Cineworld’s largest landlords, owning 14 sites across the UK, Legal & General (L&G) reaffirms its long-standing commitment to enhancing community spaces and delivering world-class cinema experiences.
“During Cineworld’s recent restructuring, which impacted 7 of our sites, L&G worked proactively to secure new terms at five locations, ensuring continued cinema operations.
“At two sites, Northampton and Middlesbrough, L&G served notice to take back control and begin an exciting new chapter for these venues.
“Once the Cineworld tenure concludes in February 2025, the refurbishment project will commence, with Odeon expected to reopen both cinemas to the public later in the year.
“By partnering with leading operators like Odeon, we continue to ensure our sites remain at the forefront of innovation and customer satisfaction.
“These changes reflect our proactive approach to asset management and our dedication to supporting the long-term vitality and evolution of the UK cinema industry.
“This aligns with L&G’s commitment to invest in the UK leisure sector for the benefit of local communities.”
Earlier this month, Teesside Live reported Cineworld, which was struggling financially, had its closure plans approved in September 2024 after four companies that form part of Cineworld’s UK arm informed the High Court they were at risk of going into administration.
This led to the closure of five sites in Glasgow Parkhead, Bedford, Loughborough, Yate and Swindon Regent Circus. In a recent update, Cineworld announced the completion of its restructuring plans but also revealed that six more branches – including Middlesbrough – would close after landlords decided to reclaim their properties.
