A major cinema chain is preparing to file for bankruptcy, according to reports.
Cineworld Group Plc, which runs cinemas nationwide including one in atria Watford, is reportedly said to file within weeks.
The Wall Street Journal says that the British company has struggled to rebuild attendance from pandemic lows, despite blockbuster hits released since restrictions eased.
Kirkland & Ellis LLP and consultants from AlixPartners have reportedly been advising the chain with the process.
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Prior to the bankruptcy news, Cineworld announced this week it is evaluating strategic options to generate liquidity.
However the chain has not publicly responded to the bankruptcy claims.
Back in 2020, Cineworld nearly landed itself in the same situation when its 800 theatres were shut due to Covid restrictions.
A potential loss of Cineworld could be a major blow to atria Watford, with it being the only major cinema chain in the town centre.
Cineworld has been contacted for comment.
There is also a Vue cinema in Woodside Leisure Park.
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