Cineworld eyes bankruptcy exit in July as most lenders back … – Reuters

May 25 (Reuters) – Cineworld (CINE.L) expects to emerge from Chapter 11 bankruptcy protection in July, the British cinema chain operator said on Thursday, adding that its proposed debt restructuring has the backing of most of its lenders.

The world’s second largest movie theatre chain operator after AMC Entertainment (AMC.N) filed for U.S. bankruptcy protection in September hoping to restructure its massive debt.

Cineworld, owner of Regal in the United States and Picturehouse, Planet and Cinema City across Europe, had scrapped plans to sell some or all its businesses after failing to find a buyer.

It instead opted for a restructuring plan that will wipe out its shareholders.

Shares in the company, which will likely be delisted after the ban…

Read the full article at: https://www.reuters.com/business/media-telecom/cineworld-expects-exit-chapter-11-bankruptcy-july-2023-05-25/