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 Shares Surge After Bankruptcy Settlement with landlords, lenders
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 files for bankruptcy protection in the USA
Cineworld Group filed for bankruptcy protection in the US as the debt-laden company seeks to restructure.
Over the last eight years, the two brothers who run Cineworld have been paid almost £26m in salary – nearly equal to the firm’s current value.
Since joining Cineworld’s board of directors in 2014, Israel Greidinger and Mooky have been each paid huge sums. The company now faces bankruptcy.
Cineworld pays $100m to lawyers and bankers in an unfortunate survival battle
The second-largest cinema operator in the world is looking for a rescue plan.
Cineworld nears bankruptcy following Covid slump, may file for Chapter 11 in the US within weeks
Cineworld is about to file for bankruptcy following a collapse of audiences during the Covid crisis.