Cineworld has announced it expects to exit bankruptcy in July after acquiring more backing from lenders.

The future of Cineworld - including the cinema in Stevenage - has been at risk since it fell into administration in September.

In a statement released on Thursday, it said proposed restructuring of the group now has the support of lenders holding and controlling approximately 99 per cent of the legacy facilities and at least 69 per cent of the outstanding debt.

Cineworld now expects to emerge from bankruptcy in July.


The restructuring plan will wipe out shareholders in the cinema chain to support its lenders and creditors.

"During the restructuring process, Cineworld continues to operate its global business and cinemas as usual without interruption," Cineworld said.