This week, more headlines emerged from Cineworld’s Chapter 11 bankruptcy process. The exhibitor is actively engaged in talks with up to 30 separate parties to sell off its Regal Cinemas locations. Among the potential acquirers are certain competitive circuits, though there can only be a handful of prime candidates from this group since Cineworld has stated a strong preference to sell off its entire network to one buyer rather than piecemeal to multiple parties.
Cineworld also signaled that any interested party should have direct communication with the company, rather than “outside parties.” This statement may refer to news reports that AMC has attempted to negotiate terms with Cineworld’s lenders rather than with Cineworld directly.
As the desperate state of Cineworld’s finances is becoming clearer, there may be opportunities for savvy exhibitors to pick up attractive sites and increase their scale as the box office continues to recover in 2023.