Cineworld has revealed it will leave bankruptcy this summer after finding further backing from lenders

The future of Cineworld, which includes a cinema in Stevenage Leisure Park, has been at risk since it entered administration last autumn.

In a statement the business said proposed restructuring of the group now has the support of lenders holding the vast majority of key assets in the company and now expects to exit bankruptcy in July.

However, the restructuring plan will wipe out shareholders in the national cinema chain in a bid to support its lenders and creditors.

Cineworld explained: "During the restructuring process, Cineworld continues to operate its global business and cinemas as usual without interruption."