Shares in Regal Cinemas' owner hit all-time low | CNN Business

Cineworld’s stock plummeted 36% Tuesday afternoon to an all-time low after the company said it had filed a plan to reorganize its business and shareholders would not recover any of their funds. The embattled owner of Regal Cinemas said it had submitted a final version of the plan to a US bankruptcy court in Texas. It first announced details of the proposal on April 3.

Like many of its competitors, the world’s second-biggest movie theater operator was hit hard by the pandemic, reporting a combined loss of $3.3 billion over 2020 and 2021. It filed for Chapter 11 bankruptcy in the United States in September. Cineworld shares have lost 98% of their value since the company listed on the London Stock Exchange in 2007. They were last trading at 1.1 pence .

More people are watching movies at home. Even if you got into the movie free the snacks cost an arm and one and and a half leg.

You can’t make people watch movies they don’t like.

Woke Movies equal Bankrupt Movie Theaters

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