Odeon announces plan to open new cinemas across UK in major 'expansion'

These new sites will feature reclining seats and VIP beds for as many as three people in some venues.

The 25,000 square foot Peterborough venue is a brand new opening with eight screens, with Norwich and Uxbridge being refurbishments to existing cinema sites.

According to Odeon, the investment was partly in preparation of a strong period for blockbuster releases.

This summer, the box office has already got off to a strong start with Inside Out 2 making over $1billion in a matter of weeks.

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In the weeks and months ahead, cinemagoers can expect to see Gladiator II, Deadpool & Wolverine and Joker on the big screen.

The cinema group, which has about 280 cinemas across Europe and is owned by US giant AMC Theatres, did not include a figure for how much it was spending on the openings.

This comes following the news that rival chain Cineworld is in talks with commercial talks to axe up to 25 per cent of its estate.

Landsec and Legal & General are in discussions about the firm's restructuring plan, Sky News reports.

Suzie Welch, Odeon’s UK managing director, outlined why expansion is a key part of the company's business plan going forward.

She explained: "We are delighted to have made a series of investments into expanding and upgrading our cinema estate and can’t wait to welcome guests to discover our best-in-class experience.

“These refurbishments reflect our long-term commitment to building our reputation as a trusted and valued tenant of choice for our landlords as well as our relentless focus on making movies better by driving innovation in the big-screen experience."

Store closures have swept UK high streets in the years following the Covid-19 pandemic.

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This month alone, chains such as The Works, Card Factory and Poundland have either closed stores or earmarked sites for closure.

Analysis carried out by PwC found there was a net of 14 store closures a day in 2023 with 5,000 less stores trading across the country.

An average of 39 chain brands shut down sites daily, while 25 new stores opened, which led to a total of 14,081 store closures for 2023.

Over this period, supermarkets saw 40 new stores open per day, due to the rise of discount grocers such as Aldi and Lidl.