Regal owner Cineworld nears bankruptcy as theater comeback delays


Cineworld Group PLC, the owner of Regal Cinemas, is preparing to file for bankruptcy within weeks after struggling to rebuild moviegoers 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 US and is also considering filing for insolvency proceedings in the UK, they said.

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