Six Cineworld sites in the South West could be at risk of closing over reports that the entertainment giant is to file for bankruptcy.
According to the Wall Street Journal, Cineworld has engaged Kirkland & Ellis lawyers as well as consultants from Alix Partners to advise on the bankruptcy process. The paper says the group is looking at Chapter 11 bankruptcy in the USA and insolvency in the UK.
Cineworld - which is the second-largest cinema chain, with 9,518 screens across 790 sites - this week warned that audience numbers have been weaker than expected and predicted they will stay low until November due to “limited” film releases. It said that it was 'assessing options to shore up its finances' as a result.
