White & Case has advised a series of lenders including Cross Ocean Partners on the refinancing and upsizing of the Odeon Cinemas Groups’ credit facilities.
Cineworld, the second-largest cinema chain internationally, is closing all US and UK venues until further notice. This comes after the latest James Bond film has been postponed for the second time, a move that has not only hit the cinema industry hard but has put tens of thousands of jobs at risk.
Last month, Virgin Atlantic was desperately trying to get creditors to agree to reductions and instalment repayments to avoid running out of money and entering administration. It has emerged that the High Court has approved the company’s £1.2bn rescue package based on evidence that the airline would be bankrupt by the end of September without support.
The COVID-19 pandemic has rocked the footballing world. Project Restart heralded the return of football to our screens, but only for the top two English leagues. Despite being in England’s second tier, Wigan have succumbed to administration. The story is not as simple as it seems however, as there exist extremely suspicious circumstances surrounding Wigan’s demise.