Is Cineworld going Bankrupt a big Deal?

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So I just watched the news and Wallstreet have just come out that Cineworld May go bankrupt so is this a big Deal? And what does this say about All cinemas in the future are Cinemas doomed to face this too. Cineworld is the Second Largest Cinema company in the World so will the Number One Cinema go bust too and what does this mean for Movie Goers.