The World's Second Biggest Theater Chain Is Filing for Bankruptcy

Cineworld is in trouble, and it's not just because they're running low on cash. The London-based theater chain has $4 billion worth of debt to answer with - including more than 9 thousand screens all over the world!

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They have operations here at home as well: Picturehouse Cinemas & CineMovies ( Ireland) Regal Entertainment Group US).

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A few years ago this would've been hard for any company like them top keep up but now things couldn't be better; thanks largely due

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The cinema industry has been struggling recently. This is due largely to the fact that there just aren't enough high-quality movies being released these days

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which means attendance at screenings will never really recover until 2021 when new blockbusters come out and pull people back into theaters en masse!

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Cineworld Group Plc is currently in talks with lawyers from Kirkland and Ellis LLP as well as consultants at AlixPartners to help it file for bankruptcy.

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The company also went through a similar process during COVID-19 but was saved by creditors who gave them an emergency loan

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The UK's largest cinema operator, C equivalent has been speaking about its intentions on filing some time ago now after having experienced another tough year financially

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following record setting levels of vandalism which saw millions lost due purely because people wanted nothing more nor less out these attacks

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Despite a gradual recovery of demand since reopening in April 2021, recent admission levels have been below expectations," Cineworld said in a statement earlier this week

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