Cineworld has shuttered 23 theatre sites since filing for bankruptcy protection last year and plans more closures. Cineworld is also reportedly looking for a cinema advertising company to replace its existing agreement with National CineMedia.
Bloomberg News was the first media outlet to report the closures, which so far represent about five percent of the company's theatre count. The cinema chain now has 478 sites.
The news comes after Cineworld said it will focus on a sale of the group as a whole rather than as individual assets.
The company has warned that any restructuring or sale will result in significant dilution of equity interests with no guarantee of recovery for existing investors.