UPDATED, 7:30 AM: Cineworld Group has officially entered administration, following an application at the High Court in London. The administration order applies only to Cineworld Group and not to any of its operating companies or subsidiaries such as Regal Cinemas in the U.S. or Picturehouse Cinemas in the UK.
Following last week’s announcement, Cineworld officially will cease trading on the London Stock Exchange at 8 a.m. BST Tuesday.
“As previously announced by Cineworld, the restructuring of the Group, which will be implemented by way of the administration process, will transform the Group’s balance sheet and provide it with significant additional liquidity to fund its long-term strategy,” the company said in a statement today.
The group has said it continues to operate its global business and cinemas — including Regal, Cinema…
