Cineworld, Parent Company of Regal Cinemas, Hopes to Re-Open Next Year

Cineworld, Parent company of Regal Cinemas, which closed its cinemas in the U.S. and the U.K., has secured more than $750 million of new financing that it hopes will see it through the coronavirus pandemic.

The company says its finances will be bolstered over over the coming months largely from a new debt facility as well as an extension of an existing credit facility.

Cineworld closed around 660 cinemas in the U.S. and Britain last month due to a lack of blockbusters as producers postpone releases because of the pandemic, including the latest James Bond film, “No Time to Die.”

The group’s best case scenario assumes a reopening of cinemas no later than May.

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