The world’s third-largest movie theatre chain Cineworld Group plc, which owns 505 Regal theatres across the country, is preparing to file for bankruptcy in the US.
The United Kingdom-based company said it’s faced a loss of income due to poor attendance since reopening theatres in 2021 and there not being enough films produced.
Cineworld Group had a net debt of $5 billion at the end of 2021, according to a report by The Hollywood Reporter.
After struggling financially since reopening…
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