Third Picturehouse cinema to close in London
Startford Picturehouse.JPG
Picturehouse announced it is closing a third London cinema in the space of a month, with the Stratford East branch the latest to shut its doors.
The Salway Road venue has been open since 1997 and won numerous architectural awards but will close for good on July 28.
Picturehouse is also closing its venue in Bromley on August 1 and on Fulham Road on July 11.
In its latest statement, a Picturehouse said: "We've made the tough decision to close Stratford East Picturehouse. The last day of trading will be Sunday July 28.
"Picturehouse Cinemas remains committed to growth and will have opened three new cinemas over the past six months. However, increasing operational costs and declining admissions have led to us making this difficult announcement.
"We'd like to thank our hard-working team and everyone who has visited us since we first opened in Stratford's Cultural Quarter in 1997. We’ll be contacting Picturehouse Members about their membership in the coming days."
Stratford Picturehouse charges a top rate of £8 for adult customers - making it a cheaper option than many cinemas in London.
A statement on its website reads: “Stylish, distinctive and minimal, the Picturehouse is a light and airy venue which brought urban regeneration to Stratford.
“Today it serves as a focal point and favourite local cinema for the community.”
The Picturehouse chain is part of the wider Cineworld group, which is reported to be carrying out a strategic review of its business which could see UK sites closed down or sold off.
A new five-screen Picturehouse Cinema has been proposed as part of a redevelopment scheme in Woolwich - a few miles from Bromley in southeast London.
Also in 2024, the first Picturehouse in Epsom is set to open.
Everyman, Picturehouse and Curzon have all opened branches across the capital in recent years in what has been reported as a shift away from multiplexes towards more arthouse type cinemas.
Dr Richard Courtney, a business professor at the University of East London, told the Standard the next 18 months could be “key” to seeing if the trend is sustainable.
“The arthouse crowd (have) money to go out,” he said. “The role of the cinema is deeply ingrained into their experience too.
“That market has not reached the saturation point as yet. It’ll be interesting to see how many open and close in the next 18 months, it is a key period. Indie cinemas have to market themselves as an alternative to streaming.”
Register now for one of the Evening Standard’s newsletters. From a daily news briefing to Homes & Property insights, plus lifestyle, going out, offers and more. For the best stories in your inbox, click here.