Cineworld to emerge from bankruptcy in July – but still nothing for shareholders SHOWSTOPPER Cineworld, the bruised and battered cinema chain which has been going through Chapter 11 bankruptcy in the US for months, has announced this morning it believes it will re-emerge as a going concern in July. The chain, which has been able to keep its cinemas open throughout, has agreed a restructuring agreement with lenders, it [...]
Cineworld can’t find buyer for operations outside UK, US and Ireland as creditors set to take over Cineworld Cineworld will halt efforts to sell its business outside of the UK, US, and Ireland after it failed to find a buyer. The London-listed firm — which filed for bankruptcy in the US last August — said that it had received offers for its “Rest of World” business but they “did not meet the value [...]
Cineworld shareholders to be wiped out under new restructuring plan Show's over? Shares in Cineworld tanked over 30 per cent this morning after the embattled cinema chain revealed that it would be forced to wipe out shareholders as part of its plan to exit bankruptcy. The London-listed firm, which filed for bankruptcy in the US last autumn, said today that it has filed a “plan of reorganisation” [...]
Curtain call? Cineworld shares plunge 20 per cent after failing to find buyer for UK, US and European arms April 3, 2023 Shares in Cineworld plunged 20 per cent this morning after the beleaguered entertainment chain was forced to drop the sale process in its US, UK and Ireland businesses after it failed to find a buyer. The cinema operator, which was hit hard by the fall out from Covid-19, revealed it will be taken over by [...]
Show’s off: Cineworld dismisses talk of deal with Odeon-owner AMC January 3, 2023 Beleaguered cinema chain Cineworld rubbished suggestions it was in talks to sell off some of its assets to Odeon-owner AMC today, after the US firm claimed it had been in talks to snap up some of Cineworld’s US and European theatres last month. London-listed Cineworld, the world’s second largest cinema chain, filed for bankruptcy in [...]
Cineworld dials back losses from Covid-hit year ahead of ‘challenging’ period September 30, 2022 Cineworld has managed to dial back some of its losses over the past year amid a “challenging” period for the beleaguered cinema chain, the company said on Friday. The British entertainment behemoth filed for bankruptcy in the US just weeks ago. Admissions in the six month period surged more than 400 per cent to 82.8m [...]
Lenders prop up Cineworld with £680m cash injection September 10, 2022 Cineworld has secured $785m (£677.4m) from existing lenders, who have sought to prop up the ailing retailer. The cinema chain officially filed for bankruptcy in the US earlier this week, having announced last month that it was voluntarily seeking a Chapter 11 bankruptcy filing, sending shares down 25 per cent. The company, which operates 747 cinemas [...]
Cineworld files for bankruptcy in the US September 7, 2022 Cineworld has filed for bankruptcy in the United States, as things go from bad to worse for the beleaguered cinema chain. The cinema chain announced last month that it was voluntarily seeking a Chapter 11 bankruptcy filing in the US, sending shares down 25 per cent. Shares in Cineworld have been in freefall in the past few weeks, with [...]
Top Cineworld shareholder dumps stake as firm faces bankruptcy September 1, 2022 A major shareholder in Cineworld has shed almost the entirety of his stake in the past two days as the beleaguered cinema chain teeters on the edge of bankruptcy.
Cineworld landlord files winding up petition against cinema chain August 27, 2022 One of Cineworld’s landlords has sent a winding up petition to the cinema chain following several High Court claims. According to filings, the claim was presented on Monday and it is understood that it was filed by the landlord of the Picturehouse cinema in Piccadilly. The cinema’s landlord won a £2.9m lawsuit against Cineworld last [...]