Cineworld UK Restructuring Plan Given Blessing by London Court

A plan by Cineworld’s UK arm to slash rent costs in a restructuring was given the green light by a London judge, in spite of opposition from some of the cinema chain’s landlords.

Cineworld is using a British restructuring plan to reduce the rent burden on a business it says is reeling from the effects of last year’s screenwriter strike. A unit of the £4 billion ($5.4 billion) listed property firm Tritax Big Box REIT Plc and the Crown Estate challenged the cinema chain’s restructuring last week, but their attempts were unsuccessful.