Cineworld has confirmed that it is considering filing for bankruptcy in the United States United States as the cinema chain continues to struggle with $5 billion in debt.
But the company, which also owns the Picturehouse chain in the UK United, insisted its cinemas would "remain open for business" and that there would be "no significant impact" on jobs.
Cineworld employs more than 28,000 people worldwide.
Like other cinema chains, Cineworld has been hit hard by the pandemic.
Many cinemas were forced to close for long periods of time during lockdowns, or had to operate at reduced capacity due to social distancing rules.
Cineworld actions plunge over bankruptcy fearsNetflix loses nearly a million subscribers ent hoped blockbusters such as the latest Bond movie, Top Gun: Maverick and Thor: Love And Thunder would bring audiences back after the lockdown restriction
Top Gun: Maverick , starring Tom Cruise, bagged $1.8 billion at the worldwide box office, making it one of the 10 highest-grossing films of all time.
But last week Cineworld warned that there had still not been enough major releases to attract cinema audiences and said it was hitting admissions.
Cineworld has confirmed that it is considering filing for bankruptcy in the United States United States as the cinema chain continues to struggle with $5 billion in debt.
But the company, which also owns the Picturehouse chain in the UK United, insisted its cinemas would "remain open for business" and that there would be "no significant impact" on jobs.
Cineworld employs more than 28,000 people worldwide.
Like other cinema chains, Cineworld has been hit hard by the pandemic.
Many cinemas were forced to close for long periods of time during lockdowns, or had to operate at reduced capacity due to social distancing rules.
Cineworld actions plunge over bankruptcy fearsNetflix loses nearly a million subscribers ent hoped blockbusters such as the latest Bond movie, Top Gun: Maverick and Thor: Love And Thunder would bring audiences back after the lockdown restriction
Top Gun: Maverick , starring Tom Cruise, bagged $1.8 billion at the worldwide box office, making it one of the 10 highest-grossing films of all time.
But last week Cineworld warned that there had still not been enough major releases to attract cinema audiences and said it was hitting admissions.
Image source, Alamy
