Lessons from Regal’s bankruptcy comms, half of the American workforce is ‘quiet quitting’
Plus: Finding a larger purpose at work.
1. Regal parent company Cineworld shares statement about bankruptcy
Cineworld, the parent company of Regal Cinemas, has filed for Chapter 11 bankruptcy, Deadline reports:
Cineworld expects to emerge from Chapter 11 in the first quarter of 2023 and meanwhile will pursue “a real estate optimisation strategy in the US,” i.e. some closures or sales of theaters, along with “engaging in collaborative discussions with US landlords to improve US cinema lease terms.”
Cineworld “is confident that a comprehensive financial restructuring is in the best interests of the Group and its stakeholders, taken as a whole, in the long term, the company said. “Cineworld looks forward to working with its creditors and stakeholders to advance the Group’s efforts to restructure its balance sheet.”
The article goes on to state that Cineworld will continue to operate its businesses around the world, including Regal, without interruption.
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