UK's Cineworld hits record low as media report says co to file for administration

Cineworld

14/06/2023 08:54

** Shares of movie chain operator Cineworld Group  CINE.L 
fall as much as 27% to 0.7 pence, their lowest ever 
    ** Co is preparing to file for administration to help with
transfer of ownership, Sky News reported on Tuesday 
    ** Report says co is lining up with AlixPartners to act as
administrator as part of its final restructuring plan  
    ** An announcement is expected to be made by the end of next
week, Sky says
    ** Adds that insolvency process for the holding company will
not impact Cineworld's business operations
    ** CINE shares down about 80% YTD 


    
   

 (Reporting by Tanya Jain)
 ((Tanya.Jain@thomsonreuters.com))