Cineworld

2022 - 8 - 19

Post cover
Image courtesy of "The Guardian"

Cineworld preparing to file for bankruptcy after pandemic rout (The Guardian)

London-listed company, which operates 751 sites in 10 countries, has run up debts of more than £4bn.

It’s all quite sad as the UK’s high street will now likely lose a popular and familiar brand name.” In 2020, the company reported a record $3bn loss. The group made a $708m loss last year. “Any deleveraging transaction will likely result in very significant dilution of existing equity interests in Cineworld,” it warned. The state of Cineworld is in stark contrast to the performance of AMC Entertainment, the world’s largest cinema group and owner of the Odeon chain in the UK, which said the new Top Gun and Dr Strange films had fuelled a doubling of ticket sales in the US. The company, which operates 751 sites in 10 countries including the Cineworld and Picturehouse chains in the UK, is expected to file a chapter 11 petition in the US and is considering insolvency proceedings in the UK, according to the Wall Street Journal.

Post cover
Image courtesy of "Financial Times"

Cineworld prepares for US bankruptcy filing (Financial Times)

World's second-biggest cinema chain has warned it is in discussions to restructure the business.

[Purchase a Print subscription for 11,12 € per week You will be billed 107,91 € per month after the trial ends](https://subs.ft.com/spa3_uk3m?segmentId=461cfe95-f454-6e0b-9f7b-0800950bef25&utm_us=JJIBAX&utm_eu=WWIBEAX&utm_ca=JJIBAZ&utm_as=FIBAZ&ft-content-uuid=c6e37cc7-6383-4183-8abd-3edff46f1037) [Purchase a Digital subscription for 6,64 € per week You will be billed 39 € per month after the trial ends](https://subs.ft.com/spa3_digital?ft-content-uuid=c6e37cc7-6383-4183-8abd-3edff46f1037) [Purchase a Trial subscription for 1 € for 4 weeks You will be billed 65 € per month after the trial ends](/signup?offerId=41218b9e-c8ae-c934-43ad-71b13fcb4465&ft-content-uuid=c6e37cc7-6383-4183-8abd-3edff46f1037)

Post cover
Image courtesy of "RTE.ie"

Cineworld shares drop over bankruptcy reports (RTE.ie)

However, the business has struggled in recent years as Covid-19 forced the prolonged closure of cinemas for many months. Studios have also delayed major ...

It has a further 126 branches in Britain; as part of a group that boasts more than 9,000 screens worldwide. It also said it was still in discussions with parties over potential funding, or restructuring of its balance sheet. Studios have also delayed major releases over the past two and a half years, with some films skipping movie screens altogether in favour of on-demand and streaming services.

Post cover
Image courtesy of "BBC News"

Cineworld shares plunge on bankruptcy fears (BBC News)

The heavily indebted cinema chain, which also owns Picturehouse, has been hit by poor audiences.

Streaming services have posed a threat to cinemas for many years, and the battle for content has become even more aggressive recently. But their next big one, Pinocchio, is going straight to Disney+ But it's telling that many other big releases are going straight to streaming services. Total box office takings this year are down a third, or 32%, compared with the equivalent period in 2019. I mean, it is still a very cheap night out," he said. "This is a big business and people still want to go out and go to the cinema."

Post cover
Image courtesy of "CNBC"

Cineworld shares plummet more than 60% on bankruptcy reports (CNBC)

Shares of British cinema chain Cineworld Group plunged Friday on reports that it is preparing to file for bankruptcy.

and is considering filing an insolvency proceeding in the U.K., they said. Meantime, there have been 30% fewer movies released in theaters owing to filming disruptions during the pandemic and a tendency for some production companies to release directly to streaming platforms. and is considering filing an insolvency proceeding in the U.K. The company is expected to file a chapter 11 petition in the U.S. - The company is reportedly expected to file a chapter 11 petition in the U.S. [Cineworld Group](//www.cnbc.com/quotes/CINE-GB) plunged Friday on reports that it is preparing to file for bankruptcy after failing to entice viewers back to movie theatres following a pandemic lull.

Post cover
Image courtesy of "Bloomberg"

Cineworld Tumbles 82% After Report on US Bankruptcy Plan (Bloomberg)

Cineworld Group Plc shares slumped more than 80% after the Wall Street Journal reported that the world's second-largest cinema operator is planning to file ...

Post cover
Image courtesy of "Reuters"

Cineworld shares slump on report bankruptcy filing is being prepared (Reuters)

Cineworld Group , the world's second largest cinema chain operator, is preparing to file for bankruptcy, the Wall Street Journal reported on Friday, ...

[read more](/business/media-telecom/cineworld-looks-further-delay-payments-former-regal-shareholders-2022-05-04/) Register now for FREE unlimited access to Reuters.com

Post cover
Image courtesy of "Sky News"

Cineworld preparing to file for bankruptcy - report (Sky News)

The group had pinned its hopes on big-budget releases such as Top Gun: Maverick, The Batman and Thor: Love And Thunder to aid its recovery from the ...

Cineworld, which also owns the Picturehouse chain in the UK and Regal Cinemas in the US, had pinned its hopes on big-budget releases such as Top Gun: Maverick, The Batman and Thor: Love And Thunder to aid its recovery from the devastating impact of the pandemic. The group had pinned its hopes on big-budget releases such as Top Gun: Maverick, The Batman and Thor: Love And Thunder to aid its recovery from the devastating impact of the pandemic - but seemingly to no avail. "We will do everything we can to support our members during this challenging time and will be looking to Cineworld to mitigate the impact of any bankruptcy arrangements on its employees."

Post cover
Image courtesy of "Forbes"

Cineworld Shares Plunge More Than 50% After Report Of Looming ... (Forbes)

The world's second largest movie theater chain and owner of Regal Cinemas, UK-based Cineworld Group, saw its stock plunge over 60% on Friday after The Wall ...

“It pays to be a ‘meme’ stock if management takes advantage of the irrational investor behavior,” says Vital Knowledge founder Adam Crisafulli. Unlike AMC, which remains a favorite of meme stock traders on forums like Reddit’s WallStreetBets, Cineworld has struggled to raise capital. [post](https://twitter.com/CEOAdam/status/1560362297020690432?s=20&t=3svNs0D-cYBorg5IvwUqPw). “By contrast, at AMC, we are quite optimistic and confident in our future.” [told](https://www.wsj.com/articles/regal-cinemas-owner-cineworld-prepares-for-bankruptcy-filing-11660910944?mod=e2tw) the Journal. The world’s second largest movie theater chain and owner of Regal Cinemas, UK-based Cineworld Group, saw its stock plunge over 60% on Friday after The Wall Street Journal reported that the company will soon file for bankruptcy as the business struggles amid declining admissions.

Explore the last week