31, it had 751 theaters worldwide, with 9,189 screens. 2 in the worldĬineworld acquired Regal Entertainment Group (now Regal Cinemas) in 2018 for $3.6 billion, making it the second largest theater chain in the world, with more than 500 theaters across the U.S alone.Ĭineworld’s website shows that, as of Dec. The bankruptcy will give the business a chance to renegotiate with its landlords in the U.S. It expects to emerge from Chapter 11 during the first quarter of 2023, but it warned that shareholder investments will take a hit. It reported losses of $2.7 billion in 2020, and $566 million in 2021.Ĭineworld says it has secured $1.94 billion in new financing from existing lenders, which will ensure its operations continue during the reorganization. The company was forced to close its theaters worldwide during the early days of the pandemic.
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