Cineworld Group Plc stated that it plans to emerge from bankruptcy unscathed after senior lenders were reported to have been considering a sale of its east European operations.
Cineworld Group Plc stated that it plans to emerge from bankruptcy unscathed after senior lenders were reported to have been considering a sale of its east European operations.
Cineworld Group, a movie theatre chain, announced Monday a bankruptcy settlement. This allowed the company to borrow $150 million more and repay $1 billion in debts.
Cineworld Group filed for bankruptcy protection in the US as the debt-laden company seeks to restructure.
Since joining Cineworld’s board of directors in 2014, Israel Greidinger and Mooky have been each paid huge sums. The company now faces bankruptcy.
The second-largest cinema operator in the world is looking for a rescue plan.
Cineworld is about to file for bankruptcy following a collapse of audiences during the Covid crisis.