Debt-laden cinema owner Cineworld Group PLC (LSE:CINE) has won a court case over its controversial restructuring plan but is still facing the possibility of an appeal.
Cineworld, which owns the Regal, Cinema City, Picturehouse and Planet chains, wants to cut the number of venues it owns and push through rent reductions on a swathe of others.
The group has only recently emerged from bankruptcy and argued if its plan were not accepted it would have to call in the administrators again.
Two property groups, UK Commercial Property Finance and the Crown Estate Commissioners, disputed this claim and issued a writ saying the new conditions Cineworld wanted were in breach of a contract agreed in 2023.
Judge Robert Miles rejected this argument but permitted UK Commercial Property Finance to appeal.
A Cineworld spokesperson said in a statement: "We are pleased that the court has approved our restructuring plan.
"This will enable us to re-set the business for the long-term and ensure a sustainable future for Cineworld in the UK."