Deals
Cineworld Lenders Eye Sale of East European Theaters Cinema City, Yes Planet
- Creditors may be seeking as much as $1 billion for assets
- Cineworld filed for Chapter 11 bankruptcy in US in September
A Cineworld Group Plc cinema in Leeds, UK.
Photographer: Anthony Devlin/BloombergThis article is for subscribers only.
Cineworld Group Plc creditors have held talks about breaking up the bankrupt theater chain and selling its eastern European operations, according to people familiar with the matter.
The largest senior creditors of the London-based company, which filed for Chapter 11 bankruptcy in Texas in September to cut a near $9 billion pile of debt and leases, are weighing the sale of Cinema City, Yes Planet and Rav-Chen, an Israeli operation, said the people, who asked not to be identified discussing private deliberations.