The Wall Street Journal reported, citing unnamed sources. The London-headquartered Cineworld is expected to file for chapter 11 bankruptcy in the US and is mulling filing an insolvency proceeding in the UK, according to the report.Cineworld and Alix Partners declined to comment.
Kirkland did not immediately respond to a request for comment. The already struggling movie theater industry had been dealt a near-deadly blow during the pandemic, which forced many screens to temporarily dim.
When COVID restrictions began to ease, theaters reopened but with a dearth of new films as Hollywood, too, had ground to a halt at that time.
Even now with more big films in theaters like Brad Pitt’s “Bullet Train,” Tom Cruises’ “Maverick” and the animated flick “DC League of Super-Pets,” moviegoing isn’t as strong as it used to be.
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