Cineworld Group — the world’s second largest movie theater chain and owner of Regal Cinemas — said Wednesday that it has filed for Chapter 11 bankruptcy protection. The British company, which owns more than 500 movie theaters across the United States, said that it commenced Chapter 11 proceedings in the United States Bankruptcy Court for the Southern District of Texas to shed company debt.
” Greidinger added that the bankruptcy filing is “part of our ongoing efforts to strengthen our financial position and is in pursuit of a de-leveraging that will create a more resilient capital structure and effective business.” “This will allow us to continue to execute our strategy to reimagine the most immersive cinema experiences for our guests through the latest and most cutting-edge screen formats and enhancements to our flagship theatres,” he added.
You guys will be filing soon right?
SHARESSS
When all movies have to go woke, guess what happen, spoiler alert, they go broke
'The rumours are going too far. Restructuring is very likely. Cineworld theaters won't go out of business. Some underperforming theaters will close. These assets may not be as exciting for others.
People that didn’t read the article won’t understand that they are going in bankruptcy to have less dept they won’t close and they aren’t close to close they have 2 billions in funding💀
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