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Cineworld confirms considering filing for bankruptcy in the US

Cineworld has confirmed reports that it is considering filing for bankruptcy in the US.

The huge cinema chain, which also owns the Picturehouse in the UK, is struggling with $5 billion worth of debt.

Whilst Cineworld was exploring options on how to restructure its business, the brand said its cinemas remain open for business.

In a statement, the firm said, “Cineworld would expect to maintain its operations in the ordinary course until and following any filing and ultimately to continue its business over the longer term with no significant impact upon its employees.”

After shares in the company crashed on Friday, numbers were a little more optimistic today.