Cineworld theater chain confirms it’s considering bankruptcy

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LONDON (AP) — Cineworld Group says it’s considering filing for Chapter 11 bankruptcy protection in the U.S. and similar actions elsewhere.

One of the world’s largest movie theater chains, which owns Regal Cinemas in the United States, said Monday that bankruptcy is one option it’s weighing to help bolster a business that has struggled to rebound from the impact of COVID-19 restrictions. It said it expected operations to run normally following any filing and “ultimately to continue its business over the longer term with no significant impact upon its employees.”

The Wall Street Journal reported Friday that Cineworld was preparing to file for bankruptcy within weeks.


Source: AP – All contents copyright 2022 Associated Press. All rights reserved.


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