Everyman cinema chain faces financial struggles after profit warning and CEO exit
The Story
Everyman, the luxury cinema chain known for sofas and gourmet food, issued a profit warning in early December 2025, leading to a nearly 20% drop in market value. Days later, its finance director announced his departure, and by the end of the month CEO Alex Scrimgeour resigned with immediate effect. The company has accumulated over £56m in pre-tax losses over the past six years and has not reported a pre-tax profit since 2019. Debt stands at £21.6m, and impairment charges of more than £6m have been booked in the last three years due to underperforming venues. Interim chief executive Farah Golant, appointed on the day of Scrimgeour’s exit, has frozen expansion to focus on reducing debt. Investors have responded positively, with the share price rising 24% to 36p since the start of 2026.
Key Facts
- Everyman issued a profit warning in early December 2025, wiping almost a fifth off its market value.
- Finance director disclosed leaving days after the profit warning; CEO Alex Scrimgeour resigned at the end of December.
- Everyman has run up more than £56m in pre-tax losses over the past six years; no pre-tax profit since 2019.
- Debt has continued to mount to £21.6m.
- More than £6m in impairment charges booked in last three years after annual assessments of venues.
- Interim CEO Farah Golant froze the expansion programme and focuses on paying down debt.
- Share price up 24% to 36p since the start of 2026.
- Membership scheme grew 18.5% last year to 67,000; fees range from £95 to £680 annually.
- Largest shareholder Blue Coast (Lewis family) built stake from about 20% to more than 29% since late 2023.
- Foundational family shareholders (Lewis, Kaye, Dorfman) control more than 50% of Everyman.
- UK box office hit £989.5m in 2025, highest since 2019, but admissions fell to 123.5m, 30% down on pre-pandemic levels.
Conflicting Reports
No conflicting reports identified in the source article.
Still Unclear
- Whether Golant’s turnaround plan will succeed in restoring profitability and repaying debt.
- How Everyman will differentiate itself from rivals that have copied its premium cinema model.
Misconceptions
No widespread misconceptions addressed in the source article.
Key Figures
- Alex Scrimgeour – former CEO, resigned in December 2025
- Farah Golant – interim CEO, appointed December 2025
- David Hancock – chief analyst, Omdia
- Andrew Renton – research director, Cavendish
- Lloyd Dorfman – founder of Travelex, former Everyman director
- Charles Dorfman – board member for 17 years, interim creative director
- Adam and Sam Kaye – founders of Ask and Zizzi pizza chains
- Blue Coast (Lewis family) – largest shareholder
Sources: The Guardian
