UK Cineworld to file for administration as ahead of restructuring plan – Sky News

British cinema chain operator Cineworld CINE.L is preparing to file for administration as a part of a financial restructuring plan, Sky News reported on Tuesday.

The company is lining up AlixPartners to act as administrator to help with the transfer of ownership to its lenders, the report added.

An announcement is expected to be made by the end of next week, a source told Sky News.

Cineworld declined to comment to a request, while AlixPartners could not be immediately reached.