The Cineworld Group - which has four cinemas in Kent - is preparing to file for bankruptcy in the next few weeks, according to reports.

An article published this morning by the Wall Street Journal suggests the company was unable to entice people back to the cinema after Covid lockdowns.

It has sparked fears the company's cinemas in Ashford, Dover and Rochester could be forced to close their doors. It also owns the Picturehouse cinema at the Elwick Place leisure complex in Ashford town centre.

An 'insider' has said that Cineworld - the second-largest cinema business in the world - is set to file a chapter 11 petition in the US, an ‘insider’ has said.

The WSJ has also claimed that the company is also considering filing an insolvency proceeding in the UK.

Cineworld has not yet commented on the claims.

It comes after a new IMAX and 4DX extension finally opened at its Ashford site on Eureka Leisure Park earlier this year.

Work on the long-awaited upgrade began in March 2020, five years after the plans were approved, but Covid lockdowns delayed the construction.

The 4DX screen is the only one in Kent and offers a rollercoaster-like experience where seats shake and water is sprayed on film-goers.

But according to the Guardian, Cineworld has run up debts of £4 billion due to huge losses made during the Covid crisis.

The company's market value more than halved on Wednesday after the company said it had started talks with stakeholders about a financial rescue package.

It blamed a lack of blockbuster films for admissions being lower than hoped.

The company's average price of tickets have increased by 40% since the pandemic.

Cineworld opened at the St James development in Dover in 2018 as a flagship attraction and the town's first-ever multiplex cinema.

It was the first business to open at the £53 million retail and leisure complex, on March 9, 2018.

In December that year, Ashford's Picturehouse opened at the £75m Elwick Place development in the town centre, featuring six screens.

The site was initially surrounded by empty units but a number of tenants – including Macknade and Snap Fitness – have since been found.