Regal Cinemas Owner Cineworld Files For Chapter 11 Bankruptcy
Per the Wall Street Journal, Cineworld, the owner of Regal Cinemas, has met with lawyers from Kirkland & Ellis LLP and consultants from AlixPartners to advise on the bankruptcy process. Cineworld is expected to file a Chapter 11 petition in the U.S. and is considering filing for insolvency in the U.K. Since the rise of streaming and the start of the COVID-19 pandemic, Cineworld has been open about low admission rates affecting business....