Cineworld preparing to file for bankruptcy following pandemic rout

London-listed company, which operates 751 sites in 10 countries, has run up debts of more than £4bn

Cineworld, the world’s second largest cinema chain, is preparing to file for bankruptcy after failing to see a quick enough recovery in movie-going since the end of the pandemic.

The London-listed business, which has run up debt of more than $4.8bn (£4bn) after losses soared while cinemas were shut during the global coronavirus crisis, has hired lawyers from Kirkland & Ellis and consultants from restructuring experts AlixPartners to advise on the process.

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