The warning from Britain’s Cineworld comes after it hadn’t received an all-cash bid to buy out the entire company.
Cineworld, which runs Regal Cinemas, said it’s possible that its shareholders may not recover their investment, with the warning Friday coming as the struggling company continues work on emerging from bankruptcy protection.
The UK-based company has been looking for potential buyers to snap up the company that runs Regal, the second-largest movie chain in the US behind AMC Theatres. It filed for Chapter 11 bankruptcy protection in September, aiming to reorganize after the movie and the broader entertainment industry were hard hit by the COVID pandemic.
