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Cineworld Exploring Sale Of UK Cinemas
Regal parent Cineworld is exploring options for its UK business which could include a potential sale or restructuring, it was reported over the weekend
After emerging from bankruptcy in the U.S. last summer, Regal parent Cineworld is exploring options for its UK business which could include a potential sale or restructuring, Sky News reported over the weekend. Cineworld is also expected to explore the option of a company voluntary arrangement — a further step in its restructuring process — which could put an unspecified number of its UK cinemas at risk of closure. Amid the U.S. bankruptcy process last year, Cineworld determined that it would cease seeking a buyer for its businesses in the U.S., UK and Ireland absent an all-cash bid significantly in excess of the value established under its proposed restructuring.
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