On Wednesday, the British cinema chain operator Cineworld Group (CINE.L) announced that a court in the United States had accepted its plan to restructure its debt.
The company stated that it was maintaining its hope that it would be able to emerge from bankruptcy in July, despite having filed for protection under Chapter 11 in the United States the previous year.
Cineworld had stated that the proposed restructuring would involve the release of about $4.53 billion of the group’s debt, raising gross proceeds from a rights offering for $800 million and providing new debt financing for $1.46 billion.
