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

By Layth Yousif

30th May 2023 | Local News

Cineworld has revealed it will leave bankruptcy this summer. CREDIT: Unsplash
Cineworld has revealed it will leave bankruptcy this summer. CREDIT: Unsplash

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."

     

New hitchin Jobs Section Launched!!
Vacancies updated hourly!!
Click here: hitchin jobs

Share:

Related Articles

Students from all three of Hitchin's Secondary Schools attended
Local News

Hitchin school students mark UK Parliament Week

Hitchin Nub News is delighted to provide a platform for expert financial commentary through our innovative partnership with Lyndhurst Financial Management
Local News

Hitchin Financial Experts explain how the recent Budget impacts residents of the town

Sign-Up for our FREE Newsletter

We want to provide hitchin with more and more clickbait-free local news.
To do that, we need a loyal newsletter following.
Help us survive and sign up to our FREE weekly newsletter.

Already subscribed? Thank you. Just press X or click here.
We won't pass your details on to anyone else.
By clicking the Subscribe button you agree to our Privacy Policy.