Movie chain Cineworld files for Chapter 11 bankruptcy

By MICHELLE CHAPMAN
AP Business Writer

Movie theater operator Cineworld Group has filed for Chapter 11 bankruptcy protection in the U.S. as it deals with billions of dollars in debt and lower-than-expected attendance at screenings. The company and its subsidiaries have commitments for an approximate $1.94 billion debtor-in-possession financing facility from existing lenders, which will help ensure Cineworld’s operations continue as usual while it undergoes a reorganization. The parent of Regal Cinemas previously said admissions have been below expectations and a “limited film slate” further threatened its operations.