“The pandemic was an incredibly difficult time for our business, with the enforced closure of cinemas and a huge disruption to film schedules that has led us to this point,” CEO Mooky Greidinger said in a statement.
The company, which owns Regal Cinemas in the U.S, and its subsidiaries have commitments for an approximate $1.94 billion debtor-in-possession financing facility from existing lenders, which will help ensure Cineworld’s operations continue as usual while it undergoes a reorganization.Last month the British company, said its theaters remained “open for business as usual” as it considered options for relief from its debt load.
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