From Top of Cineworld to BANKRUPTCY | Regal Cinemas 📉 #shorts

Shares of British cinema operator Cineworld Group, owners of Regal Cinemas, have plummeted on news that the company is ready to file for bankruptcy due to its inability to attract moviegoers back to theaters.

At mid-afternoon in London, the stock was down approximately 63%.

Reportedly, the corporation intends to file a chapter 11 petition in the United States and is contemplating pursuing an insolvency case in the United Kingdom.

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#cineworld #cinema #movies

Source:
https://www.cnbc.com/2022/08/19/cineworld-shares-plummet-more-than-60percent-on-bankruptcy-reports.html

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