Regal Cinemas Owner Cineworld Restructuring Backed by Majority of Lenders – Global Bulletin
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variety.comNaman Ramachandran Multinational cinema operator Cineworld‘s proposed restructuring now has the backing of most of its lenders, the company said on Thursday.
The restructuring, which was announced in April, “now has the support of lenders holding and controlling approximately 99% of the legacy facilities and at least 69% of the outstanding indebtedness under the debtor-in-possession facility of Cineworld and certain of its subsidiaries,” the group said in a statement.
Cineworld Group and its subsidiaries had commenced Chapter 11 cases in the United States Bankruptcy Court in September 2022.
The group now expects to emerge from the Chapter 11 cases in July and will continue to operate its cinemas as usual without interruption, it said.
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