Skip to content

Cineworld Files for Bankruptcy in Bid to Cut $5 Billion Debt

  • Owner of US chain Regal filed for bankruptcy in Texas
  • Cineworld has commitments for $1.94 billion of financing
Pedestrians pass a Cineworld cinema in Aldershot, UK.

Pedestrians pass a Cineworld cinema in Aldershot, UK.

Photographer: Jason Alden/Bloomberg
Updated on

Cineworld Group Plc filed for bankruptcy in Texas in an effort to tame its $5 billion debt pile.  

The UK-based movie theater chain, which draws most of its revenues from the US after the acquisition of Regal Cinemas in 2018, filed for Chapter 11 protection on Wednesday. Chapter 11 bankruptcy allows a company to continue operating while it works out a plan to repay creditors.