Cineworld has revealed its cash reserves have dropped by almost two-thirds (Mike Egerton/PA)
(Picture: PA Wire)London’s Cineworld and Picturehouse venues are set to remain open for the time being after the boss of beleaguered cinema chain said he still wants the firm to be “the best place to watch a movie” despite filing for chapter 11 bankruptcy in the US.
The company, which operates over a dozen different venues in London including the Cineworld Leicester Square and the Piccadilly Circus Picturehouse, said it expects to operate cinemas as usual and would continue to pay wages to staff as it began chapter 11 proceedings in a Texas courtroom in a bid to bring down its eyewatering levels of debt.
