It also said it expects “ultimately to continue its business over the longer term with no significant impact upon its employees.” It has about 28,000 workers, according to the company’s website.Įven if employees could make it through intact, shareholders may not.

That would mean an additional crunch to its finances.Ĭineworld said it’s holding talks with lenders and other major stakeholders as it reviews its financial options. And with a “limited film slate,” it expects the lower levels to continue until November. And there don’t seem to be any big hits on the immediate horizon to make those numbers much better.Ĭineworld said its admissions levels have recently been below expectations. To be sure, moviegoers have streamed back into theaters this year to see blockbusters like “Spider-Man: No Way Home,” “Top Gun: Maverick,” and ”Jurassic Park: Dominion.” Industry giant Warner Discovery has said it’s doubling down on theaters and moving away from debuting films on its HBO Max streaming service.īut this summer’s $3.3 billion in ticket sales is still running nearly 20 percent behind the summer of 2019, before the pandemic, as of Sunday, according to data firm Comscore. But the entire industry is navigating a tenuous recovery after the pandemic shut theaters worldwide. Cineworld said it expects to continue operating even after any potential filing, though its stock investors could face steep or total losses on their holdings.Ĭineworld faces challenges specific to itself after building up $4.8 billion in net debt, not including lease liabilities. The British company, which owns Regal Cinemas in the United States and operates in 10 countries, said its theaters remain “open for business as usual” as it considers options for relief from its debt load. upcomingregionalsection.cms?parentid=61017241&genere=*:* /upcomingregionalsection.A man walks past a Cineworld cinema in Leicester Square, London, on Oct.

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