The owners of the Reading Biscuit Factory cinema have addressed concerns about the future of the venue, as a sister site closes and another goes into liquidation with millions in debt.
The Really Local Group, which opened the cinema in Queens Walk in the town centre in 2021, has faced an 'extremely difficult' year, according to a representative from the firm.
Last month, a cinema owned by the group in Ealing, London, went into liquidation, owing close to £2 million to creditors, including £16,000 to 15 employees.
The Ealing venue - which remains open - also owed thousands of pounds to various film companies, including Warner Brothers and Universal Pictures.
Last week, sister site Catford Mews in Lewisham, London, was closed by its local council in a dispute with Really Local Group over rent arrears.
Now, the financial crisis has led to reduced food and drink options at the Reading Biscuit Factory, according to the owners.
A spokesperson from Really Local Group said September and October had been 'extremely difficult months for cinemas across the country' due in part to an 'unusually small amount of blockbuster films being released'.
The representative added: "It’s no secret how tough it has been for the cinema industry over the past five years, with only one month trading at pre-pandemic levels.
"RBF was uniquely impacted - we signed our lease in Jan 2020 and immediately began work on the fit-out. Due to Covid delays, the venue launched at the worst possible time in July 2021, with few films to show and audiences anxious about mixing in public.
"With last years devastating Hollywoood strikes in our rear view mirror, there are signs things are improving.
"Whilst we can’t predict the future, we have every intention of being here for a long time."
The cinema is 'confident' that the situation will improve with upcoming screenings of blockbuster films Gladiator II, Wicked, and Paddington in Peru.
The spokesperson for the cinema said: "We’d like to take this opportunity to thank our landlord for continuing to work with us to help to establish Reading Biscuit Factory as a go to destination for Reading and beyond.
"We are more than just a cinema. Roll on 2025."
The multi-use venue has a three screen cinema, event space, bar, food kiosks, and live performance space.
The name aims to keep Reading's heritage alive, inspired by Joseph Huntley who sold biscuits to travellers making the journey from Reading to Bath in 1822.
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