Regal

UPDATED, 07:30 a.m.: Cineworld Group has officially entered administration, following an application at the High Court in London. The administration order applies only to Cineworld Group and not to any of its operating companies or subsidiaries such as Regal Cinemas in the U.S. or Picturehouse Cinemas in the UK. Following last week’s announcement, Cineworld also
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CEO Adam Aron said a court ruling Friday that makes it harder for AMC Entertainment to raise cash has serious implications for the circuit’s financial stability — a blowout ‘Barbenheimer’ weekend at the box office and surging share price notwithstanding. “AMC must be in a position to raise equity capital. I repeat, to protect AMC’s
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As Regal parent Cineworld prepares to exit Chapter 11 this month, rumors are heating up over who will emerge as the giant theater chain’s new chief executive, with reports Monday pointing to Eduardo Acuna of Cinepolis. Longtime Cineworld CEO Moody Greidinger has a consulting contract during a transition period but isn’t likely to stay in
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A bankruptcy court judge today gave a green light to a reorganization plan for Regal parent Cineworld, the key step needed for the giant movie theater chain to emerge from bankruptcy next month. At a hearing, in an order from the bench, Judge Marvin Isgur of U.S. District Court for the Southern District of Texas
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Cineworld said on Monday that as part of its proposed restructuring following Chapter 11, it expects to file for administration of its listed entity Cineworld plc in the UK but that its operating companies will continue business as usual without interruption. Administration in the UK is an insolvency process, similar to a bankruptcy process. The world’s second biggest
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In-theater advertising firm National CineMedia announced a special shareholders meeting to vote on a reverse stock split — a move that boosts the price of a company’s shares — as it risks being delisted by the Nasdaq market and works through a voluntary Chapter 11 reorganization. The company, which was founded and is largely owned
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Executives of Regal parent Cineworld, led by CEO Mooky Greidinger, have agreed to a payout in the $30 million range, Deadline has confirmed, in the event that they leave leave the company as it prepares to exit Chapter 11. Documents filed earlier this year during ongoing bankruptcy proceedings in the Southern District of Texas indicated
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Regal parent Cineworld has decided to terminate the marketing process for its businesses outside of the U.S., UK and Ireland. Although it received offers from “a number of prospective counterparties,” the proposals “did not meet the value level required by the group’s lenders,” the exhibition giant said today. The so-called “rest of world” businesses include
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The nation’s biggest movie theater advertising network National CineMedia said tonight it’s filed a voluntary Chapter 11 petition in U.S. District Court in the Southern District of Texas – where one of its biggest shareholders and customers, Regal parent Cineworld, has just presented a restructuring plan to emerge from bankruptcy itself.   Cineworld filed in
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National CineMedia said today it’s negotiated a second extension of the grace period on interest payments originally due Feb. 15. A one-month grace period for a payment said to be about $6.6 million ended March 15, when the company announced lenders had agreed to another 17 days. Big ratings agencies Moody’s and S&P Global declared
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Bankrupt Regal parent Cineworld said it had multiple bids for all or some of its assets in initial expressions of interest due last week. Its business includes Regal in the U.S.; Cineworld and Picturehouse in the UK and Ireland; and “rest of world” cinemas in Central and Eastern Europe, and Israel. Cineworld attorney Joshua Sussberg
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Counsel for bankrupt Cineworld said today the Regal parent has received the outline of a restructuring plan from lenders, a blueprint that would take it out of bankruptcy, although it’s also still pursuing a possible sale of assets. At a hearing at bankruptcy court in the Southern District of Texas, Cineworld attorney Joshua Sussberg said
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Regal parent Cineworld said it’s opted to pursue a sale of assets and the process “is well under way” with non-binding bids due February 16. The company said in a bankruptcy filing this week that it’s reached out to 30 “potential transaction parties” including many competitors. If the debtors (Cineworld and its affiliates) find one
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Cineworld plans to file its reorganization plan by Oct. 31, an attorney for the giant chain said today at a hearing. It also won’t be forced to state its case in a Canadian appeals court next month for reneging on a merger agreement with Cineplex. Judge Marvin Isgur of the Southern District of Texas, who
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With Hurricane Ian en route to hit Florida’s Gulf Coast on Wednesday morning, Deadline hears that nearly 80 movie theaters have closed throughout Tampa, Orlando, the Panhandle and southwestern part of the state. This includes such properties as the spruced-up Regal Naples, the Regal Hollywood 18, the AMC Veterans Expressway 24 in Tampa, the AMC
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In response to recent speculation, Cineworld has provided an update to its August 17 announcement regarding an evaluation of strategic options to both obtain additional liquidity and potentially restructure its balance sheet through a comprehensive deleveraging transaction. Reiterating that Cineworld’s theaters, including the Regal chain in the U.S., are “open for business as usual and
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Cineworld, the globe’s second largest exhibitor, today provided an update on its current trading, liquidity position and capital structure. The company, which also owns Regal in the U.S., said it is in “active discussions with various stakeholders and is evaluating various strategic options to both obtain additional liquidity and potentially restructure its balance sheet through
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Powered by a slate of major tentpoles including Sony/Marvel’s Spider-Man: No Way Home and MGM/Eon/Universal’s No Time To Die, Cineworld Group reports it generated positive cash flow for Q4 2021. The world’s second largest exhibitor, which owns Regal in the U.S., did not disclose dollar amounts, but released a trading update this morning for the
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“There are real grounds for optimism in our industry,” Cineworld CEO Mooky Greidinger beamed today as the world’s second largest exhibitor issued a trading update. The company reached “an important milestone” in its recovery, generating positive cash flow in October, it said in the statement. Although it didn’t get into exact figures, Cineworld did report
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