Shulou(Shulou.com)11/24 Report--

CTOnews.com, Aug. 22 (Xinhua)-- Cineworld, the world's second-largest cinema operator, said it is considering filing for bankruptcy in the United States as the chain of cinemas continues to have high debt, and cinemas are still "open as usual," according to BBC.

"Cineworld hopes to maintain normal operations in and after any document and ultimately has no significant impact on its employees in the long run," Cineworld said in a statement.

CTOnews.com learned that Cineworld has 9189 movie screens in more than 750 cinemas, operates in 10 countries, including the United Kingdom, the United States, Poland and Israel, and employs tens of thousands of people.

Like the rest of the film industry, Cineworld suffered a drop in box office receipts as a result of the COVID-19 epidemic, with more than $4.8 billion (32.832 billion yuan) in debt. Shares of Cineworld fell after the Wall Street Journal reported on Friday that it was preparing to file for bankruptcy "within a few weeks".

In response to the report, Cineworld said it was studying various options, including Chapter 11 filing in the United States. The Chapter 11 bankruptcy mechanism of the United States bankruptcy Code allows companies to continue to operate while negotiating with creditors.

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