The Latest Breaking News from Cineworld

Leading movie theater operator AMC Entertainment (AMC) reported disappointing recent financials. And its near-term prospects look bleak due to production delays and increasing competition from online streaming service providers. Moreover, after gaining significantly over the past three months, this meme stock has declined nearly 26.3% over the past week as…

The world's second-largest cinema chain is struggling under heavy debts

Cineworld Group says it's considering filing for Chapter 11 bankruptcy protection in the U.S. and similar actions elsewhere

The cinema chain is going through struggles with almost $5 billion of debt.

It could come as part of a restructuring of the business which is struggling under heavy debts

The cinema chain operates 127 sites in the UK and employs 28,000 staff globally

Bosses at the world’s second-largest cinema chain said its theatres would continue to trade

Chain, which accumulated £4bn debt in pandemic, says cinemas would stay open and staff be unaffected

UK insolvency now possible -- company declines comment

Rising cost of living is “entering the stratosphere” says Citi, which forecasts energy price cap could rise to £5,816 per year in April.

More alarm bells were sounded over the state of the UK economy this morning after major investment bank Citi warned inflation could grow to as high as 18.6% next year.