Troubled cinema operator Cineworld has pulled a planned disposal of part of its international business.
The London-listed company, which is working through a restructuring plan to exit Chapter 11 bankruptcy protection, had been marketing its ‘rest of world’ business, covering markets outside of the US, UK and Ireland.
In a stock market update, the company said: “The group received proposals for the RoW business from a number of prospective counterparties, however the proposals did not meet the value level required by the group’s lenders.”
Cineworld’s restructuring of some £4bn of debt is expected to see shareholders’ holdings in the company wiped out.
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