(Reuters) – Cineworld is in talks about a possible sale as part of a strategic review that could lead to a complete restructuring of its business, Sky News reported on Saturday, citing unnamed sources.
The operator and owner of brands such as Regal, Cinema City, Picturehouse and Planet has hired AlixPartners as a consultant to work on a possible sale of its UK operations, according to the report, adding that the sale process is expected to take several weeks. .
The company emerged from Chapter 11 bankruptcy less than a year ago after filing for bankruptcy in the United States in 2022 to restructure debt.
It is also considering alternative options, including a voluntary agreement with the company that could put an unspecified number of its UK cinemas at risk of closure, Sky said.
A Cineworld spokesperson told the media outlet: “Like many companies, we continually review our UK operations.”
Cineworld and AlixPartners did not immediately respond to a Reuters request for comment.
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