The owner of one of the biggest movie theater chains in the country has filed for bankruptcy:
here in the United States, have filed for Chapter 11 bankruptcy in a Texas court. The chain says it expects to continue its business while it “implements its reorganization.” on their website, they say that “as part of its restructuring process, Cineworld expects to pursue a real estate optimization strategy in the US and intends to engage in collaborative discussions with US landlords to improve US cinema lease terms in an effort to further position the Group for long-term growth.
Cineworld says it expect to emerge from Chapter 11 “during the first quarter of 2023.” We’ll see what the state of Regal — and the entire movie theater industry — looks like then.
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