Future of cinema at Reading shopping centre decided

The Biscuit Factory independent movie theatre at Broad Street Mall in Reading town centre has been around since the summer of 2021.

For months, there has been speculation about the future of the venue, with reports from visitors about a lack of food and drink supplies there.

The cinema was run by the Really Local Group (Reading) Ltd. Uncertainty emerged when a petition to wind up the company was submitted on December 27, 2024.

A meeting took place on Thursday, January 16 to determine how the company would be liquidated, with discussions going into the following day.

The decision resulted in the Really Local Group (Reading) being liquidated, with Asher Miller and Stephen Katz of Begbies Traynor management company being appointed as liquidators.

A spokesperson on behalf of the venue stated that a deal will allow the Biscuit Factory to remain open.

It is understood that the Sarv’s Slice pizza restaurant will remain at the venue as well.

Worries about the future of the Biscuit Factory emerged last November, with reports that the food and drink offer provided by the business itself had to be reduced.

READ MORE: Owners address fears over future of Reading Biscuit Factory 

Last October, a cinema owned by the Really Local Group in Ealing, London, went into liquidation, owing close to £2 million to creditors, including £16,000 to 15 employees.

Shortly afterwards, a sister cinema in Catford Mews, East London, was repossessed by Lewisham Council due to a dispute over rent arrears.

Now the company is being restructured, with each venue now operating independently. 

A spokesperson for the Really Local Group said: “The decision to restructure follows a difficult period for the business, driven by global challenges that have affected the industry.

“Over the past five years, the group has navigated significant obstacles, including the COVID-19 pandemic, which led to prolonged closures and reduced capacities alongside construction delays at the Reading site, pushing its opening by a year.

“The energy crisis, inflation, and economic uncertainty were compounded by industry-wide impacts on cinemas from the Hollywood writers’ strike.

“Despite these hurdles, the Really Local Group remains committed to its founding vision, and the restructuring aims to ensure the sustainability and growth of its venues in the long term.”

All current memberships, pricing structures, and the commitment to fostering cultural and social connections will continue.

Preston Benson, Founder of Really Local Group, commented: “On behalf of the team at Really Local Group, I’d like to thank our communities for their unwavering support.

“Challenging times have prompted change, and this restructuring is a positive step towards securing the future of these cherished venues and ensuring they continue to thrive as cultural and community hubs.”

READ MORE: Police remove objection from independent cinema booze licence at Broad Street Mall 

Responding to concerns about the company’s cinema in Reading in November, a spokesperson from Really Local Group said: “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.

“Reading Biscuit Factory was uniquely impacted – we signed our lease in January 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.”

The spokesperson at the time said the company had ‘every intention’ to keep the cinema open despite the challenges it faced.

They added: “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 Local Democracy Reporting Service has been in regular contact with a representative for the Biscuit Factory and will provided an update soon.

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