Bankruptcy: National CineMedia, Inc.

Form Type: 10-Q

Filing Date: 2025-05-06

Corporate Action: Bankruptcy

Type: Update

Accession Number: 000095017025064502

Filing Summary: National CineMedia, Inc. reported its financial results for the quarter ended March 27, 2025. Following its voluntary Chapter 11 filing on April 11, 2023, the Company has navigated significant restructuring, emerging from bankruptcy on August 7, 2023. This process included a deconsolidation of NCM LLC from the Company's financial statements, a gain recorded on deconsolidation, and the confirmation of a reorganization plan that discharged historical debt and allowed NCM, Inc. to regain control of NCM LLC. As of the reporting date, NCM, Inc. owns approximately 100% of NCM LLC, and restructuring transactions have been substantially completed. The Company’s total assets decreased from $568.6 million at year-end to $503.8 million as of March 27, 2025, with a reported net loss of $30.7 million for the quarter. Operating losses were significantly impacted by reduced revenues and heightened operational costs during the transition from bankruptcy. The document also outlines ongoing operational strategies focused on revamping cinema advertising and maintaining partnerships with major theater chains.