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Yahoo Finance Live anchors discuss the latest news in the movie theater industry after Regal Cinemas parent company Cineworld filed for bankruptcy in the U.S.
Cineworld reported 95.3 million tickets sold in 2021, compared to 54.4 million the year before. That's a far cry from the 275 million admissions Cineworld reported for 2019.
Cineworld Group, the owner of Regal Cinemas, is preparing to file for Chapter 11 bankruptcy protection in the U.S., the Wall Street Journal reported on Friday. Executives at Cineworld in a ...
The debt-laden Cineworld Group and its subsidiaries have commenced Chapter 11 cases in the United States Bankruptcy Court for the Southern District of Texas, the company revealed on Wednesday. The ...
He and others said Cineworld is eyeing bankruptcy because it way over-levered its balance sheet with Regal, which it acquired in 2017 for $3.6 billion – meaning this is sort of company specific.
On September 7, 2022, Cineworld announced that it had filed for Chapter 11 bankruptcy. Cineworld plans to emerge from Chapter 11 in the first quarter of 2023, and planned to pursue "a real estate optimisation strategy", including the closure or sale of theaters and other discussions with landlords on its cinema lease terms with Regal. [6]
Britain's Cineworld Group (), the parent company of Regal Cinemas, filed for bankruptcy on Wednesday after struggling to climb back from pandemic lows.The news, widely anticipated, comes after The ...
The Chapter 11 filing, which allows firms to stay in business while trying to restructure their debt, involves Cineworld's U.S., UK and Jersey operations, covering the bulk of its business.