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 - 12:29 / nme.com
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 a statement, the company said (via BBC News): “Cineworld would expect to maintain its operations in the ordinary course until and following any filing and ultimately to continue its business over the longer term with no significant impact upon its employees.”They added that they were considering a ‘Chapter 11’ filing in the US, which allows a company to continue to trade while filing for bankruptcy. They did not comment on claims that they would also make the filing in the UK.A statement said further: “Despite a gradual recovery of demand since reopening in April 2021, recent admission levels have been below expectations.“These lower levels of admissions are due to a limited film slate that is anticipated to continue until November 2022 and are expected to negatively impact trading and the group’s liquidity position in the near term.”After the news broke on Friday (August 19), investors reacting to the news sent the company’s market value plunging to less than £50million ($59million), having been valued at as much as £4.4billion ($5.1billion) before the pandemic took hold.Unions representing Cineworld’s 45,000 global workforce, including more than 5,000 in the UK, have reacted to the news.“This
.Scottish singer and West End star Darius Campbell Danesh died from respiratory arrest caused by inhalation of chloroethone, a US medical examiner has confirmed.
A US bankruptcy court has approved Cineworld for first day relief following the company’s Chapter 11 filing on September 7, 2022.
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“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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Today marks National Cinema Day in the UK, celebrating one of the most popular hobbies there is. Cinemas all over the UK will be taking part in this celebration of everyone's love for films, and some cinemas have even slashed their ticket prices right down so that everyone can take part.
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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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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.
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.