Almost 130 Cineworld cinemas are at risk across the UK and Ireland. Last year the firm filed for bankruptcy protection in America, following struggles after Covid.
On Friday, February 24 the chain said it had been approached by potential suitors interested in a takeover. However, none of them were reportedly willing to pay in cash for the company.
Cineworld may have been hoping for a sale, but it was always seen as unlikely that it would find someone who was willing to take over the business and deal with its £5billion pile of debt. So while the business now hopes to come out of US bankruptcy protection sometime in the first half of this year, it will likely spell a painful end for its current shareholders.
