Cineworld to file for administration as part of financial restructuring

Cineworld has 128 cinemas across the UK and Ireland (PA)

Troubled cinema chain Cineworld has said it will file for administration in the UK as part of a restructuring plan that is set to wipe out shareholders.

The world’s second-largest cinema chain said it will apply for administration for the London-listed company in July, which will see shares in the firm suspended.