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Daily Record
Daily Record
World
Steven Rae

Cineworld preparing to file for bankruptcy with 128 UK cinemas at risk of closure

Cineworld United Kingdom United States

As many as 128 cinemas in the UK could be at threat of closing after it was revealed Cineworld is preparing to file for bankruptcy with weeks.

Thousands of jobs in the UK could be at risk after weeks of bad news for Cineworld including a tumbling share price. Shares have fallen by more than 81% to a record low of 1.8 pence, with the company expected to file for insolvency in the UK.

A similar 'chapter 11' petition is also set to be filed in the US, The Wall Street Journal reports. The Cineworld Group is the second largest cinema chain in the world with 751 sites and 9,189 screens across the globe.

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