Cineworld stops sale of UK and US operations amid debt restructuring

The cinema chain has said it is planning a debt restructuring in order to exit bankruptcy proceedings (Gareth Fuller/PA)

Troubled cinema chain Cineworld has said it will raise 2.26 billion US dollars (£1.8 billion) in new funding as part of a plan to exit bankruptcy and terminate a planned sale of its US, UK and Irish businesses.

The debt-ridden group, which runs around 750 sites globally, filed for bankruptcy protection in the US last year.