Controversial Former Cineworld Boss Mooky Greidinger Eyes UK Cinema Comeback

UK Exhibition Insiders React to Reports of New Cinema Operator

UK exhibition insiders have given a mixed reaction to reports that controversial former Cineworld boss Mooky Greidinger is hoping to launch a new cinema operator in the UK and take over some Cineworld sites.

Greidinger’s potential return comes with the beleaguered exhibition giant in the midst of an aggressive restructuring plan that will potentially see many of its landlords facing savage rent cuts.

Greidinger’s Plans and Reactions

Greidinger is said to have flown into the UK in recent weeks to meet with some of the landlords and present his alternative plans.

John Sullivan, founder of Backlot Cinema and co-founder of The Big Picture and The Light Cinemas, believes Greidinger has the expertise and financial clout to carry out his plans, which could benefit landlords.

However, others are not so sure, with one source describing the reports as “sensationalist” and stating that Greidinger’s plans are limited by his lack of a cost base and people.

Cineworld’s Current Situation

Cineworld is currently undergoing a restructuring process led by US hedge fund Goldentree, which has already seen six cinemas close.

Tim Richards, founder and CEO of Vue Entertainment, confirmed that Vue had attempted to buy Cineworld last year but was unsuccessful. He also anticipates a shake-up in the sector, but believes it will take at least 12-18 months to materialize.

Vue’s Plans

Vue is continuing to invest in refurbishments on its own sites, including rolling out recliner seats, new sound systems, and state-of-the-art laser projectors.

Richards emphasized the importance of working with landlords commercially and respectfully, stating that Vue has maintained good relationships with its landlords despite the challenges faced by the industry.

Conclusion

The future of the UK cinema industry remains uncertain, with various players vying for control and survival. While Greidinger’s plans are still in the early stages, they have sparked a mixed reaction among industry insiders.

FAQs

Q: What is Mooky Greidinger’s plan for the UK cinema industry?

A: Greidinger is reportedly planning to launch a new cinema operator in the UK and take over some Cineworld sites.

Q: What is the current situation with Cineworld?

A: Cineworld is undergoing a restructuring process led by US hedge fund Goldentree, which has already seen six cinemas close.

Q: What is Vue’s plan for the future?

A: Vue is continuing to invest in refurbishments on its own sites and is focusing on working with landlords commercially and respectfully.