Cineworld prepares for bankruptcy filing

Cineworld was preparing to file for bankruptcy within weeks, the Wall Street Journal reported. Shares in the world's second largest cinema chain, with 127 cinema venues across the UK, plunged more than 60% following the report.

The London-listed company had hoped for its box office successes of "Top Gun: Maverick", "Thor: Love And Thunder" and "The Batman" to spruce up its earnings after the pandemic.

At the time of the report, Cineworld operated in ten countries and employed around 28,000 workers worldwide, whose future was uncertain.