Cineworld Group PLC (LSE:CINE) has “several” interested parties eyeing its business outside the UK, but no bids for the whole business or its Regal US arm.
A representative of law firm Kirland Ellis said final bids are due by April 10, with two potential suitors interested in the whole of the embattled cinema group but their offers were considered too low to accept.
Last month the company said it was examining “a number” of proposals to buy some or all of the group, but that it does not expect shareholders to see any recovery.
A comprehensive restructuring plan is close to being ready as Regal, its lenders and unsecured creditors are “dotting the i’s and crossing the t’s,” according to a Deadline report.
Sussberg said he hoped a plan might be filed as soon as Wednesday.
The cinema group filed for chapter 11 bankruptcy protection in the US in September after struggling badly during the pandemic and finding it hard to recover under the weight of its debt pile.