Cinema giant Cineworld has issued an update on its future amid fears for the chain’s two Swindon venues.

In September the debt-ridden company announced it had entered into bankruptcy in the US as it started a “comprehensive financial restructuring.”

But while the global chain said on Friday that it has since been approached by a number of potential buyers, it has revealed that none have been willing to pay in cash for the entire business.

It meant shareholders' equity would be wiped out. Stocks plummeted after the announcement.

The latest update has cast doubt over the future of Cineworld’s 128 UK cinemas, including its two Swindon venues at Regent Circus and Shaw Ridge.

Despite this, all cinemas remain open for business as usual and the company says it hopes to emerge from bankruptcy by the middle of the year.

A spokesperson 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.

"None of these proposals involves an all-cash bid for the entire business.

“The company is reviewing such proposals in conjunction with its advisers and key stakeholders… based on the proposals received to date, it is not expected that any sale will provide any recovery for the holders of the company’s equity interests.”