Cineworld Group
Regal Owner Cineworld Mulls Theater Closures, Restructuring Options Post-Bankruptcy
Regal Entertainment Group owner Cineworld looks poised to close about a quarter of its theaters in the U.K. as part of a post-bankruptcy restructuring plan. “We continue to review our options, but we don’t comment on rumors and speculation,” a Cineworld spokesperson told The Hollywood Reporter in a statement. The company responded to a report […]
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Regal Owner Cineworld to File for Administration in U.K. as Part of Restructuring
Regal owner Cineworld Group will file for administration in the U.K. and delist its shares from the London Stock Exchange. In the latest update on its restructuring plan, Cineworld said its business would not be impacted by a planned emergence from U.S. bankruptcy protection set for July as assets in the cinema chain would be […]
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Cineworld Sale, Restructuring Process Detailed in Bankruptcy Court Order
A bankruptcy court in Texas has given movie theater giant Cineworld final approval for $1.94 billion in Chapter 11 financing. The final order also disclosed a deal between the company and creditors to pay $20 million-plus in “stub rent” over the coming months and detailed the timeline for a sale or restructuring process. The so-called […]
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Regal Owner Cineworld: Admissions to Remain Below Pre-Pandemic Levels in 2023 and 2024
Exhibition giant and Regal owner Cineworld Group, which recently filed for Chapter 11 bankruptcy proceedings in the U.S., predicted Friday that cinema admissions in 2023 and 2024 would remain below levels recorded before the COVID-19 pandemic. Third-quarter admissions have been “below expectations,” with the fourth quarter “anticipated to be stronger, supported by the scheduled […]
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Cineplex Denied Relief to Pursue $1.2B Judgement Against Cineworld Over Collapsed Deal
Cineplex has failed in a bid to collect on a judgement against exhibition giant and Regal owner Cineworld Group in a Canadian court amid a Chapter 11 Bankruptcy filing in the U.S. On Wednesday, Cineplex said the U.S. Bankruptcy Court for the Southern District of Texas denied a bid by the Canadian exhibitor for relief […]
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Regal Owner Cineworld Granted Access to up to $785M in Financing
A U.S. bankruptcy court has granted movie theater giant Cineworld Group access to up to $785 million in financing, with the company saying that is “expected to provide sufficient liquidity” for it “to meet its ongoing obligations.” Cineworld, which operates the Regal cinemas in the U.S., and certain of its subsidiaries filed for Chapter 11 […]
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Smaller Theater Owners “Not Losing a Lot of Sleep” Over Limited Film Slate This Fall
While the debt-ridden Cineworld Group weighs a bankruptcy filing, citing the upcoming lack of fall wide releases, smaller theaters and chains are less fazed by the slowdown. As many theater owners are quick to point out, August, September and October are always seasonally slower months for film releases, but this year, there are even fewer high-profile Hollywood wide releases due to pandemic-related delays […]
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