The cinema chain has written to the Prime Minister to say the industry is no longer viable but holds out some hope the closures could be a temporary measures.
Cineworld says the delayed released of big-budget films, including the new James Bond film No Time to Die, has come as a devastating blow.
The film’s release has been postponed twice and will now not be shown until April next year.
In September, Cineworld reported £1.3 billion of losses for the six months to June after cinemas were forced to close due to coronavirus lockdown restrictions.
Cineworld has more than 120 cinemas in the UK, including St Neots and Huntingdon, and the closure would put up to 5,500 jobs at risk if it were to become permanent.