SpaceX Pushes for Early Stock Index Inclusion Ahead of Potential Record-Breaking IPO 
Missouri Judge Dismisses Lawsuit Challenging Starbucks’ Diversity and Inclusion Policies 
American Airlines CEO to Meet Pilots Union Amid Storm Response and Financial Concerns 
South Africa Eyes ECB Repo Lines as Inflation Eases and Rate Cuts Loom 
U.S. Stock Futures Rise as Markets Brace for Jobs and Inflation Data 
Asian Markets Surge as Japan Election, Fed Rate Cut Bets, and Tech Rally Lift Global Sentiment 
Trump’s Inflation Claims Clash With Voters’ Cost-of-Living Reality 
Rio Tinto Shares Hit Record High After Ending Glencore Merger Talks 
Gold and Silver Prices Rebound After Volatile Week Triggered by Fed Nomination 
Singapore Budget 2026 Set for Fiscal Prudence as Growth Remains Resilient 
Trump Signs Executive Order Threatening 25% Tariffs on Countries Trading With Iran 
Trump Lifts 25% Tariff on Indian Goods in Strategic U.S.–India Trade and Energy Deal 
U.S. Stock Futures Slide as Tech Rout Deepens on Amazon Capex Shock 
Japanese Pharmaceutical Stocks Slide as TrumpRx.gov Launch Sparks Market Concerns 
Baidu Approves $5 Billion Share Buyback and Plans First-Ever Dividend in 2026 
Once Upon a Farm Raises Nearly $198 Million in IPO, Valued at Over $724 Million 
Sony Q3 Profit Jumps on Gaming and Image Sensors, Full-Year Outlook Raised 
Cineworld is the second largest movie theater chain in the world, but in recent years, it has been struggling to stay afloat. The company incurred massive debt, and now it has filed for bankruptcy.
According to Reuters, the British entertainment conglomerate based in London filed for Chapter 11 on Wednesday, Sept. 7, in the United States as it continues to struggle with its debt. With the filing, the Cineworld Group will have a chance to stay in business while working on resolving the debt issues at the same time.
Under the bankruptcy protection, the company will undergo restructuring and get help on how to settle its dues. It was said that the Chapter 11 filing involves the entertainment company’s operations in the United Kingdom, the U.S., and Jersey. A huge part of Cineworld’s business is covered in the filing.
The company believes it will soon recover and emerge from the Chapter 11 protection within the first quarter of 2023. Cineworld said it is planning to pay all of its creditors in full during the restructuring process. It will also settle dues to employees and pay them their usual salaries.
Cineworld is expected to run its global business and theaters as usual while it settles its commitments from lenders and other vendors. Throughout the restructuring process, the company will continue to work and hopefully be able to resolve all the issues. CNN Business reported that the company revealed it has access to financing worth almost $2 billion from existing lenders, so it has funds to keep the business going.
In any case, Cineplex will also review all the details about Cineworld’s Chapter 11 filing and proceedings and see if it can advance with its claim against the latter. It can be recalled that Cineworld ditched its $2.1 billion takeover deal with Cineplex in June 2020. There is still conflict between the two sides due to confusion on which side pulled out of the contract.
"We have an incredible team across Cineworld laser-focused on evolving our business to thrive during the comeback of the cinema industry," Cineworld’s chief executive officer, Mooky Greidinger, said in a statement"The pandemic was an incredibly difficult time for our business, with the enforced closure of cinemas and a huge disruption to film schedules that has led us to this point."
