Cineworld shares plunge after it receives no all-cash offers to save business

Any bankruptcy rescue deal for London-listed group would wipe out shareholders

Shares in Cineworld have plunged further after the movie chain said it had received no all-cash offers from potential suitors to save its global business, and any bankruptcy rescue deal would wipe out shareholders.

The London-listed group, which was forced into bankruptcy in the US despite a wider recovery in cinema-going fuelled by hits such as the sequels to Avatar and Top Gun, said it has received non-binding proposals from a number of potential transaction counterparties" for its business.