Bankruptcy: Last News

The shoe finally fell today as giant theater chain Cineworld filed for Chapter 11. The bankruptcy includes a $1.94 billion debtor-in-possession financing facility from existing lenders to keep things running.

Cornwall, where she has in recent years become a local celebrity.  Since writing The Salt Path in 2018 – her tale of losing her home in a soured business deal, and setting off on a 630-mile walk along the South West Coast Path with her ailing husband, Moth – Winn has sold more than a million books. Her life has changed radically, from running a B&B in Wales to becoming a full-time writer.

Bosses at Cineworld are considering whether to put the cinema chain into bankruptcy. They confirmed on Monday (August 22) that they are looking at options for restructuring the world’s second-largest cinema chain, which is struggling under heavy debts.

COVID pandemic.It was reported last week via a piece in the The Wall Street Journal that the share price of the company had dropped from 20p to 2p, leading to conversations around bankruptcy. Before COVID, it was trading at £1.97.The London-listed company, which operates 751 sites in 10 countries including the Cineworld and Picturehouse chains in the UK, ran up debt of more than £4billion ($4.8billion) after its cinemas were closed during the global health crisis.Cineworld has now confirmed that conversations are taking place.

In response to recent speculation, Cineworld has provided an update to its August 17 announcement regarding an evaluation of strategic options to both obtain additional liquidity and potentially restructure its balance sheet through a comprehensive deleveraging transaction.

Naman Ramachandran After reports last week saying that debt-laden exhibition giant Cineworld was considering bankruptcy, the group has issued a statement revealing a possible Chapter 11 filing in the U.S.“In response to media speculation, Cineworld is today providing an update to its announcement on 17 August 2022 regarding an evaluation of strategic options to both obtain additional liquidity and potentially restructure its balance sheet through a comprehensive deleveraging transaction,” Cineworld, which which owns Regal Cinemas in the U.S., said on Monday.“Cineworld and Regal theaters globally are open for business as usual and continue to welcome guests and members. The strategic options through which Cineworld may achieve its restructuring objectives include a possible voluntary Chapter 11 filing in the United States and associated ancillary proceedings in other jurisdictions as part of an orderly implementation process.

Cineworld,, staggering under heavy debt and facing a dip in box office revenue this quarter, asserted Friday that it’s business as usual for the giant movie chain while it explores options.

As many as 128 cinemas in the UK could be at threat of closing after it was revealed Cineworld is preparing to file for bankruptcy with weeks.

The Wall Street Journal reported, citing unnamed sources. The London-headquartered Cineworld is expected to file for chapter 11 bankruptcy in the US and is mulling filing an insolvency proceeding in the UK, according to the report.Cineworld and Alix Partners declined to comment.

COVID pandemic.The London-listed company, which operates 751 sites in 10 countries including the Cineworld and Picturehouse chains in the UK, ran up debt of more than £4billion ($4.8billion) after its cinemas were closed during the global health crisis.News of the chain’s bankruptcy, as first reported in The Wall Street Journal, has contributed to its share price dropping from 20p to 2p.

Kate Price is flogging her designer gear online, but one item in particular has caught the eyes of fans for all the wrong reasons.

Naman Ramachandran Debt-laden exhibition giant Cineworld is filing for bankruptcy after admitting to low admissions, according to reports. The company, which owns Regal Cinemas in the U.S., has hired lawyers from Kirkland & Ellis LLP and consultants from AlixPartners to advise on the bankruptcy process, the Wall Street Journal said, citing people familiar with the matter.

Cineworld, the globe’s second-largest exhibitor and owner of Regal Cinemas, is preparing to file for bankruptcy within weeks, according to reports in the Wall Street Journal.

Kerry Katona was unable to buy her own children's school uniforms after her financial struggles got so bad in the past.

Katie Price has been reunited with her beloved VW Beetle - spending £8k revamping it three years since it was first repossessed.The bankrupt star has splurged on painting her motor a deep purple shade as she moves forward with her life following months of court drama. A source said: "Katie has recently decided to revamp and fix her beloved Beetle. She got the car re-done last week.

To hear Lorcan Otway tell it, he’s in a fight for his life.If he finds someone willing to refinance his debt, Theatre 80 — the iconic East Village venue where Otway has lived and worked since he was 9 years old — will be saved.If he doesn’t, the off-Broadway theater where “You’re a Good Man Charlie Brown” was born and countless stars have thrived will likely be sold at bankruptcy auction to the highest bidder. Otway is facing nearly $10.5 million in debts after COVID shutdowns left him unable to pay a loan.

Katie Price has been photographed arriving at court today (24 June), as she is set to be sentenced after pleading guilty to breaching a restraining order. The 43 year old, who recently attended her younger sister Sophie's wedding to Harry Brooks, had been banned from contacting Michelle Penticost, the fiancée of Katie's ex-husband Kieran Hayler, directly or indirectly under the five-year restraining order, which she received back in June 2019.

Katie Price has reportedly dodged bankruptcy proceedings for a third time, as her case has apparently been delayed until February 2023.

Revlon has gone bust amid rising debts, supply chain chaos and fierce competition from younger rivals. The 90-year-old cosmetics giant behind Elizabeth Arden and Gatineau filed for bankruptcy in the US yesterday. It follows years of struggle for the New York-based business, renowned for supermodel campaigns featuring diverse, famous and new models including Iman, Claudia Schiffer, Cindy Crawford and Christy Turlington.

Video: Advent Raises $25B for Private Equity Fund (Bloomberg)Gulf Central Banks partially Follow FedPost-Fed, ECB Effect, BOE Expectations: 3-Minute MLIVDefinitely Want to Be Selling Into This Market: ApabhaiCathay Pacific Plans Hiring SpreeRobeco's Chow on Bond MarketsJPMorgan AM's Cheong on Market OutlookL'Oreal CEO on Tech in Beauty & Risks of RecessionCredit Suisse WM's Argyrou on Fed Decision, BondsFund Lobby Urges Hong Kong to Drop Quarantine MeasuresYen Angst Gauge Remains HighFranklin Templeton Investments CEO on M&A ActivityKKR's Freise on Inflation, Central Banks, Private EquityMark Carney on Central Banks, Rate Hikes, Net ZeroFed's Forecasts 'Remarkably Optimistic': William DudleyFed Raises Rates and Signals Another Hike Is ComingStanley: Fed Would Like to See Soft Landing“Today’s filing will allow Revlon to offer our consumers the iconic products we have delivered for decades, while providing a clearer path for our future growth,” said Debra Perelman, who was named Revlon president and CEO in 2018. Her father, billionaire Ron Perelman, backs the company through MacAndrews & Forbes, which acquired the business through a hostile takeover in the late 1980s.

Cosmetics company Revlon, has filed for Chapter 11 bankruptcy protection - weighed down by rising debts, global supply chain disruptions and new rivals. The firm has been a fixture on beauty shelves for 90 years but has struggled in recent years with mounting debt, rising competition and failure to keep pace with changing beauty standards. The firm said that upon court approval, it expects to receive 575 million US dollars (£467 million) in financing from its existing lenders, which will allow it to keep its day-to-day operations running.