Troubled Cineworld appoints Eduardo Acuna as new boss as it prepares to emerge from bankruptcy
Cinema chain Cineworld has said its lenders have appointed Eduardo Acuna as chief executive as it prepares to emerge from bankruptcy.
He will work with chairman Eric Foss as part of an team hired by lenders.
Cineworld filed for Chapter 11 bankruptcy in the US last year after being weighed down by mammoth debts.
Collapse: Cineworld – which is being weighed down by debt – is hoping that movies like Barbie, featuring Margot Robbie (pictured), will help it out of trouble
It plans to restructure its £3.8billion debt pile to allow it to exit bankruptcy this month, and hopes are high that movies like Barbie, featuring Margot Robbie, will help it out of trouble.
Acuna replaces Mooky Greidinger at the helm.
Greidinger and his management team are reportedly being handed between £23million and £26.8million as a ‘golden goodbye’.
Cineworld’s UK operations are being placed in administration this month, and shares suspended.
That will not affect operations – its 128 cinemas in the UK and Ireland will be open.