Cineworld ‘to file for bankruptcy’ with 102 UK cinemas under threat after chain built up £4bn debts

Cineworld, the world’s second largest cinema business, is said to have engaged lawyers from Kirkland & Ellis LLP and consultants from AlixPartners to advise on a potential bankruptcy filing, having built up £4 billion of debt by the end of the last financial year. The London-listed company, which operates 751 sites in 10 countries, is expected to file a chapter 11 petition in the US and is considering insolvency proceedings in the UK, according to reports. More from i News.