On Tuesday, Cineworld (CINE.L), the world’s second-largest cinema chain, filed a reorganization plan with the U.S. Bankruptcy Court for the Southern District of Texas, Houston Division.
In September, most of the firm filed for Chapter 11 bankruptcy.
After failing to sell its U.S., U.K., and Ireland companies, the operator suggested a new financing solution a week earlier.
On Tuesday, the faltering movie company announced its reorganization would not benefit share investors.
Cineworld aims to emerge from Chapter 11 in the first half of 2023, although any sale transaction from the marketing process may postpone emergence.
