Cineworld Draws Multiple Bids for Bankrupt Movie Chain’s Assets

Cineworld Group Plc has received multiple bids from potential buyers interested in all or some of the company’s assets, said Josh Sussberg, the firm’s bankruptcy attorney, in a hearing Tuesday.

• The movie theater chain didn’t receive any all-cash bids, nor did it receive a bid that matched the $6 billion of secured debt on the firm’s balance sheet, according to Sussberg
• Cineworld plans to file a restructuring support agreement and disclosure statement to the bankruptcy court next week
• Blockbusters like Avatar and the Ant-Man sequel have buoyed ticket sales in recent months, he said
• NOTE: Final bid deadline will be ...