Cineworld eyes exclusivity extension as it works with lenders on RSA

By Sarah Lizee

Olympia, Wash., March 14 – Cineworld Group plc is seeking another extension of its exclusive periods to file and solicit votes on a Chapter 11 plan, according to a motion filed Monday with the U.S. Bankruptcy Court for the Southern District of Texas, according to an order.

Specifically, the company asked the court to extend the exclusive plan filing period through June 5 and the exclusive solicitation period through Aug. 4.

The company said that since its first exclusivity extension, it has made progress towards an agreement with an informal lender group on a restructuring support agreement that will include a plan term sheet.

Cineworld said the extension would protect the progress made to date and ensure the debtors will stay on track to emerge from Chapter 11 on a timeline that is in the best interests of the debtors’ estates.

Cineworld is a London-based cinema operator. The company filed bankruptcy on Sept. 7, 2022 under Chapter 11 case number 22-90168.

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