Cineworld expects to exit Chapter 11 bankruptcy in July

(Sharecast News) - Cineworld said on Thursday that it expects to exit Chapter 11 bankruptcy in July.

The beleaguered cinema chain also said that its proposed restructuring now has the support of lenders holding around 99% of legacy facilities.

The company - which filed for bankruptcy in the US in September 2022 - is scheduled to seek final court approval of its bankruptcy restructuring on 12 June.

"During the restructuring process, Cineworld continues to operate its global business and cinemas as usual without interruption," it said.

"Cineworld and its brands around the world - including Regal, Cinema City, Picturehouse and Planet - are continuing to welcome customers to cinemas as usual. The group continues to honour the terms of all existing customer membership programmes, including Regal Unlimited and Regal Crown Club in the United States and Cineworld Unlimited in the UK."