Box Office Blues—About $1.9 Billion in CMBS at Risk as Regal Cinemas' Parent Considers Bankruptcy Filing
The potential bankruptcy filing of Cineworld Group PLC (Cineworld or the Company), which owns Regal Cinemas (Regal) in the U.S., could leave $1.86 billion in loans packaged in commercial mortgage-backed securities (CMBS) at heightened risk of default. Cineworld, which said on August 22 that it is considering filing for Chapter 11 bankruptcy protection in the U.S. and taking similar action elsewhere, is one of the five largest tenants at 51 properties that serve as collateral for more than $4.5 billion of CMBS loans.
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