RE: Good update10 Nov 2022 14:33
No they lost, once out hard to get back in. believe me. Many to buy back, or they will lose a big sum here going forward. You will see.
The company was allowed to borrow the $1 billion and use it to repay some of the debts it accumulated in 2020 and 2021 due to the coronavirus lockdown measures after settling with its landlords and junior creditors who initially opposed the plan.
After reaching an agreement with its lenders and landlords, Cineworld’s path is more straightforward now, and the company is expected to exit the chapter 11 bankruptcy protection proceedings. The company outline its next steps no doubt.
Will the world’s second-largest movie theatre chain reach an agreement with the rest of its lenders regarding its massive debt burden allowing it to exit the bankruptcy process as a more robust company than it was at the beginning of the process? The short answer is this is the expected outcome.