Scottish singer and West End star Darius Campbell Danesh died from respiratory arrest caused by inhalation of chloroethone, a US medical examiner has confirmed.
22.08.2022 - 15:35 / manchestereveningnews.co.uk
Bosses at Cineworld are considering whether to put the cinema chain into bankruptcy. They confirmed on Monday (August 22) that they are looking at options for restructuring the world’s second-largest cinema chain, which is struggling under heavy debts.
One option being considered is a Chapter 11 bankruptcy filing in the US. Chapter 11 is often referred to as reorganisation bankruptcy and does not mean the end of the line for the company.
Firms including General Motors and Marvel Entertainment have in the past made Chapter 11 filings, only to bounce back later. The announcement from Cineworld came days after the Wall Street Journal first reported that the company was on the verge of declaring it is bankrupt.
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A Chapter 11 gives companies a chance to propose a reorganisation, and the banks, suppliers and employees they owe money to are allowed to vote on the plan. After the filing is made, the company remains in control of its assets and does not have to shut down or liquidate its business to pay off debts.
It is also protected from foreclosure and repossessions. “Cineworld and Regal theatres globally are open for business as usual and continue to welcome guests and members,” the company told shareholders.
“The strategic options through which Cineworld may achieve its restructuring objectives include a possible voluntary Chapter 11 filing in the United States and associated ancillary proceedings in other jurisdictions as part of an orderly implementation process. Cineworld is in discussions with many of its major stakeholders, including its secured lenders and their legal and financial advisers.”
Importantly,
Scottish singer and West End star Darius Campbell Danesh died from respiratory arrest caused by inhalation of chloroethone, a US medical examiner has confirmed.
Former Pop Idol star Darius Campbell Danesh died from “inhalation of chloroethane”, the Southern Minnesota Regional Medical Examiner’s Office has confirmed.The singer and actor was found dead in his US apartment, in Rochester, Minnesota, last month at the age of 41. Autopsy documents obtained by the PA news agency listed “toxic effects of chloroethane” as well as “suffocation” as having contributed to his death.The death was ruled an accident by the medical examiner. Darius was laid to rest in Scotland on Thursday 25 August in a private service for family and friends.
A US bankruptcy court has approved Cineworld for first day relief following the company’s Chapter 11 filing on September 7, 2022.
“I do think the studies will get paid, like they usually do, whatever they are owed. Because we are the suppliers and that’s usually what happens,” Lionsgate vice chair Michael Burns said Wednesday of the Chapter 11 filing earlier in the day by Regal Cinemas’ parent Cineworld.
The debt-riddled Regal Cinemas owner Cineworld Group on Wednesday filed for Chapter 11 bankruptcy in the U.S. In a statement, the troubled London-based cinema chain said it was setting up “a $1.94 billion debtor debtor-in-possession financing facility from existing lenders which will help ensure Cineworld’s operations continue in the ordinary course while Cineworld implements its reorganisation.” The filing the United States Bankruptcy Court for the Southern District of Texas covers multiple subsidiaries of Cineworld, which operated 505 theaters in the U.S.
The shoe finally fell today as giant theater chain Cineworld filed for Chapter 11. The bankruptcy includes a $1.94 billion debtor-in-possession financing facility from existing lenders to keep things running.
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Cineworld, the world’s second largest cinema chain, faces fresh uncertainty after its second largest shareholder cut its stake, causing shares to fall in value for a second day.
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COVID pandemic.It was reported last week via a piece in the The Wall Street Journal that the share price of the company had dropped from 20p to 2p, leading to conversations around bankruptcy. Before COVID, it was trading at £1.97.The London-listed company, which operates 751 sites in 10 countries including the Cineworld and Picturehouse chains in the UK, ran up debt of more than £4billion ($4.8billion) after its cinemas were closed during the global health crisis.Cineworld has now confirmed that conversations are taking place.
In response to recent speculation, Cineworld has provided an update to its August 17 announcement regarding an evaluation of strategic options to both obtain additional liquidity and potentially restructure its balance sheet through a comprehensive deleveraging transaction.
Naman Ramachandran After reports last week saying that debt-laden exhibition giant Cineworld was considering bankruptcy, the group has issued a statement revealing a possible Chapter 11 filing in the U.S.“In response to media speculation, Cineworld is today providing an update to its announcement on 17 August 2022 regarding an evaluation of strategic options to both obtain additional liquidity and potentially restructure its balance sheet through a comprehensive deleveraging transaction,” Cineworld, which which owns Regal Cinemas in the U.S., said on Monday.“Cineworld and Regal theaters globally are open for business as usual and continue to welcome guests and members. The strategic options through which Cineworld may achieve its restructuring objectives include a possible voluntary Chapter 11 filing in the United States and associated ancillary proceedings in other jurisdictions as part of an orderly implementation process.
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As many as 128 cinemas in the UK could be at threat of closing after it was revealed Cineworld is preparing to file for bankruptcy with weeks.
The Wall Street Journal reported, citing unnamed sources. The London-headquartered Cineworld is expected to file for chapter 11 bankruptcy in the US and is mulling filing an insolvency proceeding in the UK, according to the report.Cineworld and Alix Partners declined to comment.