The business reporter is from the British Broadcasting Corporation.

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Cineworld is considering filing for Chapter 11 in the US as it struggles with high debt.

The Picturehouse chain in the UK is owned by the company.

Cineworld's shares plummeted on Friday after it was reported that it was about to file for bankruptcy.

The cinemas are open for business as usual, according to the company.

"Cineworld would expect to maintain its operations in the ordinary course until and following any filing and ultimately to continue its business over the longer term with no significant impact on its employees."

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.

Cineworld was hit by the Pandemic.

The firm wanted audiences to come back after the restrictions were lifted.

The post- Covid customers levels were lower than expected.

Cineworld's share price plummeted after the Wall Street Journal reported that the company was preparing to file for Chapter 11.

Cineworld said it was considering a Chapter 11 filing in the US.

A company can continue to operate while it negotiates with its debts under the Chapter 11 process.

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  • Cineworld
  • British cinema
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