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Regal Cinemas Owner Lands Financial Lifeline, Averting Bankruptcy

by Bioreports
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Regal Entertainment Group owner Cineworld Group PLC said Monday it secured a financial lifeline after creditors supplied the struggling movie-theater operator with a rescue loan and other debt relief.

Under the deal, lenders will provide a $450 million loan to Cineworld to help keep it afloat through the Covid-19 pandemic as infections surge throughout the U.S. Other lenders will provide additional flexibility on the company’s revolving loan and other senior debt, with the various measures providing over $750 million of extra…

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