Companies

Cineworld says it expects to exit bankruptcy in July

The world’s second-largest cinema group, which operates Ireland’s largest cinema complex on Parnell Street, filed for Chapter 11 bankruptcy in the US last year

  • May 25, 2023
Cineworld, Parnell Street is Ireland’s largest cinema complex with 17 screens. Picture: Getty

Cineworld says it expects to exit bankruptcy protection in July as the troubled cinema chain secured further backing from investors for its restructuring plan.

The world’s second-largest cinema group, which operates Ireland’s largest cinema complex on Parnell Street, filed for Chapter 11 bankruptcy in the US last year after being weighed down by its mammoth debts and weaker-than-hoped audience numbers.

On Thursday, the firm revealed it now has support from lenders controlling around 99 per ...