London CNN —
Shares in Cineworld plunged more than 30% Monday, hitting their lowest level since late August, after the owner of Regal Cinemas said it planned to terminate efforts to sell its US, UK and Irish businesses.
The world’s second-largest movie theater chain also announced a debt restructuring plan with lenders to help it exit bankruptcy . The deal does not provide for any recovery of funds for shareholders, the company said in a statement.“This agreement with our lenders represents a ‘vote of confidence’ in our business and significantly advances Cineworld towards achieving its long-term strategy in a changing entertainment […]
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