Cineworld Group said it has emerged from Chapter 11 bankruptcy after nearly 11 months, coming out with lower debt and a new slate of management and board.
Aug 1 - Cineworld Group
said it has emerged from Chapter 11 bankruptcy after nearly 11 months, coming out with lower debt and a new slate of management and board.said it has appointed former Chair and CEO of Warner Bros Ann Sarnoff to its board, along with four other members to join new Chairman Eric Foss and CEO Eduardo Acuna.
The movie chain operator and owner of brands such as Regal, Cinema City, Picturehouse and Planet had filed for U.S. bankruptcy in early September to restructure its massive debt. The "New Cineworld" has fixed its balance sheet after cutting debt by $4.53 billion, raising about $800 million in new equity capital and securing new debt financing of about $1.71 billion, the company said.
"We are excited and energized by the bright future ahead of us and look forward to delivering a great guest experience to our valued customers, filled with high-quality entertainment and fun," Foss said in a statement.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Ann Sarnoff Joins Board as Cineworld Emerges From Chapter 11 CasesFormer WarnerMedia Studios and Networks Group chair and CEO Ann Sarnoff has joined the board of directors of Cineworld as the group emerges from Chapter 11 cases. Cineworld Group and its subsidiari…
Weiterlesen »
Regal Owner Cineworld Takes Next Step Toward Exiting BankruptcyAppointing a U.K. administrator is the latest step as the exhibition giant looks to emerge from bankruptcy proceedings as part of a debt-for-equity transaction.
Weiterlesen »
Ann Sarnoff Joins Cineworld Board As Regal Parent Emerges From BankruptcyRegal parent Cineworld has officially emerged from bankruptcy, unveiling five new board members and a strengthened balance sheet. The chain, which was flattened by Covid and high debt, filed for Ch…
Weiterlesen »
DCG Says It Sees Resolving Genesis Chapter 11 Bankruptcy SoonJUST IN: DCGco says it's close to 'reaching an agreement in principle to resolve the claims in the Genesis Capital Chapter 11 cases,' according to a letter sent to shareholders.
Weiterlesen »
DCG says it's close to reaching agreement on Genesis Chapter 11, appoints new CFODCG told shareholders in its Q2 financial update that it is close to resolving the claims in the bankruptcy case of Genesis Capital.
Weiterlesen »
17 Magical Mermaid Books For Kids Who Need A Little “Vitamin Sea”Picture books and chapter books for readers of all ages with mermaids at the central character.
Weiterlesen »