Aug 22, 2022
Cineworld confirms it is considering bankruptcy
Cineworld has said it is considering filing for bankruptcy in the US, as the cinema chain continues to struggle with more than $5bn of debt. Shares in Cineworld plunged on Friday after a report that it was preparing to file for bankruptcy. In a statement, it said: "Cineworld would expect to maintain its operations in the ordinary course until and following any filing and ultimately to continue its business over the longer term with no significant impact upon its employees." Cineworld has 9,189 screens across more than 750 sites. The Wall Street Journal reported on Friday that Cineworld was preparing to file for bankruptcy, sending its share price tumbling.
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