After going into administration with a £5bn debt last autumn, the entertainment giant Cineworld has updated with news of potential buyers.

And with none apparently willing to pay for the whole business, the future of 129 cinemas across the UK is in the balance – including Cineworld theatres in Cheltenham's Brewery Quarter and Gloucester Quays.

A spokesperson for Cineworld said: "The company has now received non-binding proposals from a number of potential transaction counterparties for some or all of the group's business.

"The company is reviewing such proposals in conjunction with its advisers and key stakeholders and, whilst no decision has been made as to whether to pursue a sale transaction, and the terms of any such transaction remain uncertain, based on the proposals received to date, it is not expected that any sale transaction will provide any recovery for the holders of the company's equity interests."

Cineworld operates 103 cinemas under the Cineworld brand across the UK and the Republic of Ireland and a further 26 under Picturehouse brand.