Rescue deal lined up for Cineworld as Covid-19 leaves it struggling under weight of £6.2bn debt pile Cineworld had to close all of its 127 sites in the UK during the first lockdown It is considering a company voluntary arrangement (CVA) This form of insolvency would see it pay a portion of its debt back to … Read more
Cineworld set to run out of cash within weeks unless it secures a lifeline from investors, analysts warn By Daily Mail City & Finance Reporter Published: 23:04 BST, 13 October 2020 | Updated: 23:04 BST, 13 October 2020 Cineworld could run out of cash within weeks unless it secures a lifeline from investors, analysts have … Read more
The plot has thickened at Cineworld after a secretive Chinese millionaire hiked his stake in the cinema chain. Liu Zaiwang made his fortune in construction business in the 1990s during the country’s building boom. But his interest in Cineworld since the Covid crisis triggered a catastrophic drop in its share price and has stoked speculation … Read more
Cineworld attempted to flog leftover Pick N Mix stock to staff before they learned about the chain’s plan to mothball its 127 UK theatres, an employee has claimed. The Cineworld employee says were offered to buy the excess sweets, which the cinema chain worried it would not sell between now and Thursday – when its … Read more
MARKET REPORT: Shares in Cineworld plunge after company closes venues again as shortage of film releases trigger collapse in demand By Matt Oliver For The Daily Mail Published: 22:03 BST, 5 October 2020 | Updated: 22:22 BST, 5 October 2020 Shares in Cineworld plunged by as much as 60 per cent after the company said … Read more
Shares in FTSE 250-listed Cineworld have more than halved today after the giant said it will temporarily shut down all of its cinemas in the UK and the US, affecting around 45,000 employees in the two countries. The cinema giant, which blamed the decision on delays of major film releases and an ‘increasingly challenging’ situation … Read more
Cineworld has today confirmed plans to temporarily close 127 sites across the UK. The cinema chain will make the closures in both the UK and the US after big studios started to delay their major film releases to wait for better audiences. The decision will affect around 45,000 employees in the two countries – Cineworld’s … Read more
Cineworld staff have today slammed the company amid claims employees first found out online about the firm’s plans to shut all 128 of its UK and Ireland cinemas. One member took to social media site Twitter to describe the situation as ‘appalling’. It comes after reports in The Sunday Times today revealed how the company, … Read more
The last picture show: Cineworld to shut all 128 of its UK and Ireland cinemas after industry became ‘unviable’ following coronavirus cancellations Cineworld chiefs could announce plans as early as tomorrow, say Sunday Times The paper reports the move to close cinemas could put up to 5,500 jobs at risk It comes after latest James … Read more
New Christopher Nolan film Tenet puts Cineworld in limelight as cinema-goers return after lockdown By City & Finance Reporter for the Daily Mail Published: 21:59 BST, 28 August 2020 | Updated: 21:59 BST, 28 August 2020 Cineworld shares rose nearly 5 per cent after the cinema chain’s boss said it had seen a number of … Read more