In Science and Space: Cineworld, the owner of Regal Cinemas, is considering filing for bankruptcy in the United States. The British conglomerate operates 9,518 screens across 790 sites and is the second-largest movie theater chain by following AMC.
Cineworld attributed its financial struggles to lower admissions at theaters due to a limited lineup of films. The company was also forced to close theaters for several months throughout the pandemic.
In a statement released on Monday, Cineworld said that a “voluntary Chapter 11 filing in the United States” is among the “strategic options” the company is considering as it seeks to grapple with its debt burden.
In the meantime, Cineworld theaters will be open for business as usual and continue to welcome guests and members,” the company said.