|
It's chapter 11 so they are just restructuring. I am guessing it mainly involves their real estate leases; they just want to get out of lease obligations now that movie theaters are closed.
Plenty of other businesses (mainly restaurants, bars, hotels... hospitality) will start going through chapter 11 or 7 as well due to inability to pay rent. Even if they open their doors today their business volume will be way lower than usual because people are still scared.
|