LOUISVILLE, Ky. (WDRB) -- The parent company of Regal Cinemas is getting some help with its debt in order to stay afloat and avoid declaring bankruptcy.
The move gives Cineworld an extra $750 million to keep the doors open amid the coronavirus pandemic. The company reported a $1.6 billion loss in September for the first half of 2020 as revenue slumped by 67%, according to an October report from CNN Business.
This comes as nearly 650 movie theaters across the U.S. closed last week as cases of COVID-19 continue to rise.
A majority of movie studios have delayed their fall and holiday movie releases until 2021, leaving theaters with no new movies to show.
Regal has several locations in Kentuckiana, including Clarksville, New Albany, Shelbyville and Seymour.
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