Cineworld filed for bankruptcy, saddled with more than $5 billion in debt. The world's second largest movie theater chain never fully recovered after closing its theaters during the pandemic.
Cineworld Group PLC, the owner of Regal Cinemas, filed for bankruptcy Wednesday after a sluggish recovery in theater admissions fell short of the company’s financial needs.
Cineworld, the world’s second-largest movie theater chain behind rival AMC Entertainment Holdings Inc., filed a chapter 11 petition in the U.S. Bankruptcy Court in the Southern District of Texas. The Wall Street Journal reported last month that Cineworld
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