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Cineworld Plans US Bankruptcy to Manage Debt Amid Weak Sales

  • Chain said this week that it’s weighing restructuring options
  • Company’s shares plunged 82% on Friday to record low
Cineworld, the world’s second-largest cinema chain, took on debt to fund an acquisition spree, and then was hit hard by pandemic lockdowns and a slow return to moviegoing. 

Cineworld, the world’s second-largest cinema chain, took on debt to fund an acquisition spree, and then was hit hard by pandemic lockdowns and a slow return to moviegoing. 

Photographer: Jason Alden/Bloomberg
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Movie theater chain Cineworld Group Plc is weighing filing for bankruptcy protection in the US in the coming weeks after a slow recovery in ticket sales dented the company’s finances, according to people with knowledge of the situation.