Regal Parent Cineworld Has Reached Out To 30 Potential Buyers As It Pursues Sale, Initial Bids Due Next Month

said it’s opted to pursue a sale of assets and the process “is well under way” with non-binding bids due Feb 16.

U.K.-based Cineworld filed for Chapter 11 in September in bankruptcy court in the Southern District of Texas. It announced early this month that it had started a marketing process to find a strategic or financial buyer. A reorganization was also an option but the company said it hadn’t yet received a response to a restructuring proposal provided to the Ad Hoc Group on Dec. 1. “As a result, the Debtors have made the Marketing Process their major focus,” said the filing this week.

How many of those 30 companies have Cineworld had a response from, as who would be crazy to buy Cineworld in its current state as they would need to have more money than sense

And that’s why they shouldn’t have replaced Coca-Cola products with Pepsi ones.

alamodrafthouse should get that regal in Astoria.

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