Cineworld Bankruptcy Judge Tells Regal Parent To Fast Track Theater Closings, Landlord Negotiations – “We Are Not Going To Stick Around Here Forever”
deadline.comJudge Marvin Isgur told parties to the Cineworld bankruptcy Wednesday they need to speed things up as debtors and creditors hash out a restructuring plan for the giant movie chain, including closing theaters, wrapping up lease negotiations with landlords, and advancing an overall sale process. “We are not going to stick around forever.
The debtors need to be aggressive. I am not sitting here for a year, or for six months, to figure out what shops are closing.
That is a process that is going to happen now,” said Isgur of U.S. bankruptcy court judge for the Southern District of Texas at a hearing today.
Shops refers to theaters. Cineworld filed for Chapter 11 in September. “I have been very patient in this case [but] I want to see more action in terms of what this future company is going to look like…We need to move on with life,” Isgur said.
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