Cineworld restructuring plan unveiled after fears for cinemas in Chichester, Crawley and Eastbourne

Plans to restructure the troubled cinema chain Cineworld have been unveiled today (Tuesday, April 11).

By Joe Stack

Published 11th Apr 2023, 14:50 GMT

Updated 11th Apr 2023, 14:57 GMT

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The company filed for bankruptcy sparking fears for the future of Sussex cinemas in Chichester, Crawley, Eastbourne and Brighton. Cineworld is reportedly $5 billion in debt and had been looking for a new buyer. About 129 branches are at risk of closure.

A new deal which has been agreed will now see the company’s shareholders ‘wiped-out’ in the latest proposals to reorganise the business.

According to Reuters, the cinema operator’s share prices has hit an all-time low of 1.5p.