Cineworld announced it expects to exit bankruptcy in July after aquiring more backing from lenders.
The world's second largest cinema chain previously filed for bankruptcy in the US last year after becoming crippled by excessive debts and low audience numbers. However, the firm revealed on Thursday (May 25) that it has secured support from lenders controlling roughly 99 per cent of its legacy lending facilities and at least 69 per cent of its outstanding debt.
The company which also owns the Picturehouse brand, will go ahead with plans to restructure it debt of around five billion US dollars to allow it to exit bankruptcy. The company highlighted that it is continuind to run its venues "as usual without interruption."
