Cineworld is looking at 'insolvency process' in the UK   

The Cineworld cinema venue on Parnell Street, Dublin. File picture:Gareth Chaney/Collins

Cineworld, one of the world's largest cinema chains and owner of the multiscreen on Parnell Street in Dublin, is looking at a company voluntary arrangement, an insolvency process used in the UK to cut costs, as part of its talks with lenders to gain access to capital, the Financial Times has reported. 

The cinema chain is also considering slashing rents and permanently closing UK cinemas after lockdown restrictions and a lack of blockbuster films caused business to collapse.