UK-based Cineworld, the world’s second largest theater chain behind AMC\n \n , filed for bankruptcy protection last September after a punishing two years during the pandemic. Its cinemas had continued to operate while it restructured its finances. The group said in a statement that it had cut its debt by $4.53 billion, raised $800 million in new equity capital and secured debt financing of $1.71 billion.
It suffered a combined loss of more than $3.3 billion over 2020 and 2021, and has so far shuttered 51 of its Regal theaters in the United States. The “Barbenheimer” bounce The industry’s fortunes have changed dramatically since then. AMC announced Sunday that between July 21 and July 27, it earned its largest admissions revenue in a single week since the company’s founding in 1920.