Cineworld shares plunge on bankruptcy fears

Concerns that Cineworld is about to file for bankruptcy have caused the company's shares to fall more than 60 percent.

The company is struggling with $5 billion in debt.

Cineworld was hit by the Pandemic.

Cineworld blamed limited film releases for the lower-than- expected levels of post- Covid customers.

Cineworld's share price plummeted after it was reported that the company was preparing to file for bankruptcy.

The Cineworld has been contacted.

The firm wanted audiences to come back after Covid restrictions.

Recent admission levels have been below expectations despite a gradual recovery of demand.

The lower levels of admissions are due to a limited film slate that is anticipated to continue until November 2022.

Many cinemas were closed for extended periods or were operating at reduced capacity during the Pandemic.

Cineworld has 9,189 screens around the world.

In addition to the UK, the US, Poland and Israel, it has operations in 10 other countries.