Cineworld Close to Hiring PJT as Adviser Ahead of Debt Talks
- PJT has already worked with firm this year on debt facility
- Lenders organized with FTI, Houlihan before potential talks
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Cineworld Group Plc is close to hiring PJT Partners Inc. for advice as the theater company prepares to negotiate an overhaul of its debts with creditors, according to people familiar with the situation.
The company, which said on Monday that the pandemic is forcing it to close hundreds of theaters across the U.S. and Britain, is likely to appoint both financial and legal advisers this week, the people said, asking not to be named as it’s private. PJT, led by Paul J. Taubman, has already worked with the company this year when it secured a $250 million debt facility from a group of private institutional investors, according to the people.