The Globe and Mail reports in its Friday, May 26, edition that Cineworld Group said on Thursday it expects to emerge from Chapter 11 bankruptcy protection in July. A Reuters dispatch to The Globe reports that Cineworld filed for U.S. bankruptcy protection in September, hoping to restructure its massive debt. Cineworld, owner of Regal in the United States and Picturehouse, Planet and Cinema City across Europe, had scrapped plans to sell some or all its businesses after failing to find a buyer. It instead opted for a restructuring plan that will wipe out its shareholders. Shares in the company, which will likely be delisted after the bankruptcy process, have lost more than 99 per cent of their value since hitting a peak of 310 British pence six years ago. They were trading at one pence on Thursday. After years of expansion through acquisitions that also loaded its balance sheet with debt, Cineworld hit a major snag when the pandemic shut its cinemas and halted releases of blockbuster movies. In addition, its abandoned plan to take over rival Cineplex Inc. has triggered a $1.23-billion damages claim for walking away from the deal.