The Latest Breaking News from Cineworld

Cineworld has signalled its intention to declare bankruptcy. Like many companies in the UK and elsewhere, the London-based cinema chain took on massive amounts of debt to expand. It is expected to use the Chapter 11 process in the US to restructure its debt and other obligations.

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The potential bankruptcy of world No.2 cinema operator Cineworld is shining a spotlight on the wider industry as it struggles to recover from the pandemic and compete with the growing popularity of streaming, Reuters reported. Debt-laden Cineworld, which owns the Regal chain in the United States and runs theatres in…

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The world's second-largest cinema chain is struggling under heavy debts

Cineworld Group says it's considering filing for Chapter 11 bankruptcy protection in the U.S. and similar actions elsewhere

The cinema chain is going through struggles with almost $5 billion of debt.

It could come as part of a restructuring of the business which is struggling under heavy debts

The cinema chain operates 127 sites in the UK and employs 28,000 staff globally