Cineworld Group plc filed a motion in the US Bankruptcy Court for the sale of its certain assets on October 20, 2022. The debtor seeks the Court's approval for the sale of its certain assets to Garner Group Acquisitions LLC, the winning bidder, for a purchase price of $1.8 million in cash pursuant to the asset purchase agreement, dated April 29, 2022. The debtor's assets include “Shannon Cinema” located at 4600 Jonesboro Road, Union City, Georgia.

The Debtors considered several of these offers through the early months of 2022, resulting in a bidding war that drove the purchase price up to $1.8 million. The buyer has made an earnest deposit of $0.08 million. The sale hearing is scheduled for November 7, 2022.

SRS Real Estate Partners acted as broker for the purchaser. John T. Grieb of McGuireWoods LLP acted as counsel for the buyer.