By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Oh! EpicOh! Epic
Font ResizerAa
  • Home
  • Entertainment
  • Movies & Shows
  • Gaming
  • Influencers
  • Life
  • Sports
  • Tech & Science
  • Contact
Reading: The Second Largest Theatre Chain in The World Declares Bankruptcy
Share
Font ResizerAa
Oh! EpicOh! Epic
  • Home
  • Entertainment
  • Movies & Shows
  • Gaming
  • Influencers
  • Life
  • Sports
  • Tech & Science
Search
  • Home
  • Entertainment
  • catogories
Follow US
Oh! Epic > Entertainment > The Second Largest Theatre Chain in The World Declares Bankruptcy
EntertainmentMovies & ShowsNews

The Second Largest Theatre Chain in The World Declares Bankruptcy

Jethro
Last updated: March 9, 2025 03:35
Jethro
Published August 30, 2022
Share
SHARE

Cineworld, the owner of Regal Cinemas, is $4.8 billion in debt.

Not the Cinemas too!

As a result of the post-pandemic return to theaters not turning out to be as profitable as anticipated, Cineworld, the owner of Regal Cinemas, is prepared to declare bankruptcy within the next few weeks.

Contents
Cineworld, the owner of Regal Cinemas, is $4.8 billion in debt.Not the Cinemas too!Is it time to say Goodbye?

The London-based Cineworld, which has a debt of $4.8 billion, is anticipated to declare bankruptcy in both the US and the UK, according to The Wall Street Journal. It runs more than 9,000 screens in 751 sites around the globe, including Regal Cinemas in the United States, Cinema City in Europe, and Yes Planet in Israel, as well as Picturehouse and Cineworld theaters in the United Kingdom and Ireland. It is the world’s second-largest theater chain, trailing only AMC, which has survived post-pandemic difficulties in part because it has become a meme stock.

The corporation supposedly relied on popular movies like The Batman, Top Gun: Maverick, and Thor: Love and Thunder to increase movie ticket sales, but the current figures are below expectations. In addition, Cineworld noted that there just aren’t enough movies set for release in the near future, so a change in revenues isn’t anticipated until the end of 2022.

Is it time to say Goodbye?

“Despite a gradual recovery of demand since reopening in April 2021, recent admission levels have been below expectations,” Cineworld said in a statement earlier this week.

“These lower levels of admissions are due to a limited film slate that is anticipated to continue until November 2022 and are expected to negatively impact trading and the group’s liquidity position in the near term.”

To help with its bankruptcy case, the business, formally known as Cineworld Group Plc, is currently in contact with advisers from AlixPartners and attorneys from Kirkland & Ellis LLP. In 2020, at the height of COVID-19, it also declared bankruptcy but was spared by a lifeline from creditors.

When will we see you again?

You Might Also Like

Lab-grown Wood: Sustainable 3d-bioprinted Timber In 3 Months

World’s Strongest Coffee Brands: Top High-caffeine Brews

World’s Strongest Coffee: Black Label – 1,555 Mg Caffeine

World’s First Tau-based Alzheimer’s Vaccine Developed At Unm

Rick Davies, Supertramp Co-founder, Dies At 81 From Cancer

Share This Article
Facebook Whatsapp Whatsapp Email Print

Follow US

Find US on Social Medias
FacebookLike

Weekly Newsletter

Subscribe to our newsletter to get our newest articles instantly!
Popular News
Knowing more about Chef Andre Rush
Entertainment

White House Chef Andre Rush And His Famous 24-inch Biceps

Oh! Epic
By Oh! Epic
September 6, 2025
The Official Trailer for Wonka Finally Drops
Bioengineered Heart Patches Repair Hearts And Beat In Sync
Dota 2 Cheaters were Tricked into Disclosing Themselves by Valve, Who then Banned Them
Margot Robbie to Join The MCU
Global Coronavirus Cases

Confirmed

0

Death

0

More Information:Covid-19 Statistics

You Might Also Like

LeBron James receives his Hall of Fame coat while still playing in the league
Entertainment

Lebron James Inducted Into Hall Of Fame As Active Player

September 15, 2025
LeBron James receives his Hall of Fame coat while still playing in the league
Entertainment

Active Nba Player Lebron James Joins Basketball Hall Of Fame

September 15, 2025
a man held his breath for 29 minutes, shattering the world record and surpassing most marine mammals
Entertainment

Croatian Freediver Sets Guinness Breath-hold Record At 29:03

September 15, 2025

About US

Oh! Epic 🔥 brings you the latest news, entertainment, tech, sports & viral trends to amaze & keep you in the loop. Experience epic stories!

Subscribe US

Subscribe to our newsletter to get our newest articles instantly!

 

Follow US
Go to mobile version
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?