Major UK cinema chain Cineworld is reportedly expected to file for bankruptcy within weeks. The chain has cinemas across the country, including in Nottingham city centre's Cornerhouse building.
Cineworld shares have plummeted after reports the cinema chain is preparing to file for bankruptcy “within weeks”. Shares dived by two-thirds within minutes of reports by the Wall Street Journal that the world’s second biggest cinema business has hired lawyers from Kirkland & Ellis and consultants from AlixPartners to advise the bankruptcy process.
Cineworld has declined to comment. It comes two days after Cineworld said it is assessing options to shore up its finances after it blamed a “limited” film slate for weak audience numbers in recent months.
