Cineworld Group PLC, the owner of Regal Cinemas, is preparing to file for bankruptcy within weeks after struggling to rebuild movie-theater attendance from pandemic lows, according to people familiar with the matter.
The London-based cinema company has engaged lawyers from Kirkland & Ellis LLP and consultants from AlixPartners to advise on the bankruptcy process, these people said. Cineworld is expected to file a chapter 11 petition in the U.S. and is also considering filing an insolvency proceeding in the U.K., they said.
Source: https://www.wsj.com/articles/regal-cinemas-owner-cineworld-prepares-for-bankruptcy-filing-11660910944?siteid=yhoof2&yptr=yahoo