‘The Wall Street Journal’ reports that Cineworld, the world’s second largest theater, will file for bankruptcy.
Cineworld owns Regal Cinemas in the U.S., among others, and its recent debt-ridden, latest revelation that because of the limited number and size of theatrical films, the level of theatrical franchising is lower than expected, which could lead to equity dilution.
The latest reports say Cineworld has brought in attorneys from Kirkland & Ellis LLP and advisors from AlixPartners to handle the Chapter 11 filing.
