Cineworld Prepares To Declare Bankruptcy After Pandemic Cineworld
The London-listed company, which is more than $4.8bn (£4bn) in debt after losses soared while cinemas were closed during the global coronavirus crisis, has hired lawyers from Kirkland & Ellis and consultants from restructuring specialists AlixPartners to advise on the process. The company, which operates 751 locations in 10 countries, including the Cineworld and Picturehouse chains in the UK, is expected to file for Chapter 11 in the US and is considering insolvency proceedings in the UK, according to the Wall Street Journal....