That would mean an additional crunch to its finances.Ĭineworld anticipates exiting from Chapter 11 during the first quarter of 2023. And with a “limited film slate,” it expects the lower levels to continue until November. The company, which has about 28,000 employees, previously said that its admissions levels have recently been below expectations. Houston Movies COVID Theater Safety Policies TOP 10. and operates in 10 countries, said its theaters remained “open for business as usual” as it considered options for relief from its debt load.Ĭineworld had built up $4.8 billion in net debt, not including lease liabilities. Movie times for Clearview Mall Cinemas, 101 Clearview Circle, Butler, PA, 16001. Last month the British company, which owns Regal Cinemas in the U.S. The company and its subsidiaries have commitments for an approximate $1.94 billion debtor-in-possession financing facility from existing lenders, which will help ensure Cineworld’s operations continue as usual while it undergoes a reorganization. “The pandemic was an incredibly difficult time for our business, with the enforced closure of cinemas and huge disruption to film schedules that has led us to this point," CEO Mooky Greidinger said in a statement. as it deals with billions of dollars in debt and lower-than-expected attendance at screenings.
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