RE: Go ask a member of staff?19 Aug 2022 18:14
Cineworld plunged 58% after the Wall Street Journal reported that the movie theatre operator is preparing to declare bankruptcy, as it struggles to recover from pandemic lows.
According to people familiar with the matter, the London-based cinema chain has engaged with lawyers from Kirkland & Ellis LLP and consultants from AlixPartners to advise Cineworld on its bankruptcy process.
Cineworld is expected to fill a chapter 11 petition in the US, and is also considering filing for an insolvency proceeding in the UK.