Cineworld , the globe’s second-largest exhibitor and owner of Regal Cinemas, is preparing to file for bankruptcy within weeks, according to reports in The Wall Street Journal. The London-based company has engaged lawyers from Kirkland & Ellis LLP and consultants from AlixPartners to advise on the bankruptcy process, the publication reported. Cineworld, which operates 751 sites in 10 countries including the boutique Picturehouse chain in the UK, is expected to file a Chapter 11 petition in the United States and is considering filing for insolvency in the UK, the report said. Cineworld’s share price has been collapsing over recent days, falling from nearly £21 on Wednesday to £3.50 just minutes ago. The company did not immediately respond to Deadline’s request for comment. The news comes days after the company said it was in “active discussions with various stakeholders and is evaluating various strategic options to both obtain additional liquidity and potentially … [Read more...] about Cineworld Preparing To File For Bankruptcy