Cinema City may collapse
Cineworld, the cinema conglomerate that owns the Cinemta City chain, is considering filing for bankruptcy in the US and UK.
Cineworld is the second largest cinema operator in the world. The company has been having a lot of liquidity problems recently. During the pandemic, cinemas were unable to operate for a long time, and now audience numbers are still below expectations.
The company has told investors that it is considering various options for liquidity recovery and debt restructuring. It is in talks with major shareholders, lenders and legal and financial advisors. A bankruptcy filing is also one of the options.