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Cineworld to Close Six More Multiplexes to Complete U.K. Restructuring Post-Bankruptcy
The Hollywood ReporterStory by Etan Vlessing
scrn logline
Cinema giant Cineworld shutters 6 more UK multiplexes in major post-bankruptcy restructuring to stabilize finances and focus on 'extraordinary experiences' for customers.
beat sheet
- Cineworld renegotiated rents at 50 locations, but landlords are reclaiming 6 more properties, impacting thousands of jobs across the UK.
- The restructuring, advised by Alix Partners, follows Cineworld's earlier US bankruptcy and aims to lighten debt load as it seeks to capitalize on Hollywood's box office recovery.
call sheet
Javier Sotomayor, Cineworld, Regal Entertainment Group, Alix Partners