The Bosses Of The Regal Cinemas Owner Are Set To Depart With $35 Million After Cineworld Emerges From Chapter 11

A Regal Cinema in Los Angeles.Getty Images The bosses of Cineworld, which owns Regal, will collect $35 million, the Financial Times reported. Cineworld filed for bankruptcy protection last year with debts of $8.8 billion. A source told Insider the payout is intended to help smooth CEO Mooky Greidinger's departure. The bosses of the company that owns Regal Cinemas stand to collect about $35 million despite their empire filing for bankruptcy owing $8.8 billion, a report said.The Financial Times first reported that Cineworld CEO Mooky Greidinger and his management team would receive a payout to smooth their expected departure from the company when it leaves Chapter 11 proceedings in July.UK-based Cineworld bought Regal, the second-biggest US movie theater chain, for $3.6 billion in 2017.