The cinema chain has suffered a double blow in recent years - growth in streaming services and the COVID-19 pandemic which saw it close cinemas under social distancing rules.
Troubled cinema chain Cineworld is terminating plans for the sale of its UK, US and Ireland businesses.
Cineworld, with around 750 sites worldwide, including the Picturehouse chain in the UK, filed for US bankruptcy protection in September. This will involve lenders providing around $1.46bn in new credit, as well as $800m of equity to the lenders.Cineworld launched an effort to find a potential buyer earlier this year but had no acceptable offers.
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Cineworld says it aims to raise $2.3bn to exit bankruptcyThe cinema chain filed for bankruptcy protection in the US in September as it faces $5bn of debt.
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Cineworld announces debt restructuring plan with biggest lenders\n\t\t\tKeep abreast of significant corporate, financial and political developments around the world.\n\t\t\tStay informed and spot emerging risks and opportunities with independent global reporting, expert\n\t\t\tcommentary and analysis you can trust.\n\t\t
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