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Regal Parent Cineworld Expects Bids For Theaters Outside U.S./UK, Says Plan To Exit Chapter 11 Nearly Ready

March 28, 2023 by deadline.com

An attorney for bankrupt movie theater chain Cineworld said today it has “several” interested parties eyeing its business in “rest of world” — meaning Israel and Europe outside the UK — but nothing pending for the entire company, or, it seems for Regal in the U.S. Final bids are due April 10, said Joshua Sussberg of Kirland Ellis. Two strategic suitors potentially were interested in the full company, but the offers were too lowball to consider moving forward with. Meanwhile, he said, a comprehensive restructuring plan is close to being ready as Regal, its lenders and unsecured creditors are “dotting the i’s and crossing the t’s.” Sussberg said he hoped a plan might be filed as soon as Wednesday. A rep for the lenders agreed the sides are close, but he noted that these “are important i’s to dot and t’s to cross.” Cineworld filed for bankruptcy last fall in U.S. District Court in the Southern District of Texas. Judge Marvin Isgur said today he’s sticking with an April … [Read more...] about Regal Parent Cineworld Expects Bids For Theaters Outside U.S./UK, Says Plan To Exit Chapter 11 Nearly Ready

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