Cineworld confirms it is looking at filing for bankruptcy in US

[Google News Bot]

Chain, which accumulated £4bn debt in pandemic, says cinemas would stay open and staff be unaffected

• Business live updates: Cineworld mulls US bankruptcy filing

Cineworld has confirmed it is considering filing for bankruptcy in the US after accumulating £4bn in debt during the coronavirus pandemic but assured moviegoers and staff that its cinemas would continue operating even as it tries to restructure its balance sheet.
The world’s second-largest cinema chain has struggled after failing to experience a quick enough recovery in the wake of the Covid-19 outbreak, which forced most of its sites to close during lockdowns. It reported a $708m (£598m) loss last year, and accumulated $4.8bn (£4bn) in debts while cinemas were shut.
Continue reading...

Continue reading the above news article, by clicking here.

Administration and Moderation NOTE: A Reminder, the above news is provided for free, through a RSS Feed. The above quote does NOT include the full story. In order to continue to read more past what is quoted, please click through to the article, by clicking on the link provided above through the "continue reading" text.

Please be sensible and follow our terms of service and rules, when replying and debating the news article.