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The world's second largest cinema chain has stressed that the move will not impact its British operations and its sites will remain open and operate as usual
Regal owner Cineworld Group will file for administration in the U.K. and delist its shares from the London Stock Exchange. In the latest update on its restructuring plan, Cineworld said its business would not be impacted by a planned emergence from U.S. bankruptcy protection set for July as assets in the cinema chain would be […]
hello, again. we're telling you about the movies before the break. what on earth is going on. the man in the know. here he is. good morning. >> good morning. we found an announcement from cineworld, major player in this country. they've got more than 700 sites around the world including 128 in this country. that includes the picture house chain. the company said this morning it's going to be going into administration this. is part of a long-running saga in which the country is essentially being overwhelmed by its debts, which according to a statement in the u.s. came to some 8.8 u.s. billion dollars. it was a business founded really very aggressively on the back of expansion plans and involved a lot of borrowing along the way. however, during the pandemic the company was brought to its knees. no one was allowed to go to the
Cineworld Group PLC on Thursday said it expects to emerge from Chapter 11 proceeding in July and, during its restructuring process, will continue to operate as usual.
UK's FTSE 100 extended losses on Thursday as investors were anxious about further monetary tightening by the Bank of England, while Cineworld rose after the cinema operator said it expects to exit... | May 25, 2023