Scotrail12
Member
- Joined
- 16 Nov 2014
- Messages
- 840
Shares have significantly fallen (over 60%) and Cineworld is in significant debt so they are filing for bankruptcy.
www.bbc.co.uk
Thoughts on this? I wonder what the outcome will be. Certainly in Glasgow, it's our only real cinema presence and would be a shame to lose the world's tallest.
I do remember they closed for quite a long time during COVID so that won't have helped them at all.
Cineworld shares plunge on bankruptcy fears
The heavily indebted cinema chain, which also owns Picturehouse, has been hit by poor audiences.
Shares in Cineworld have fallen more than 60% as concerns mount that the world's second largest cinema chain is about to file for bankruptcy.
The company, which also owns the Picturehouse chain in the UK, is struggling under $5bn worth of debt.
Like other cinema chains, Cineworld was hit hard by the pandemic.
Cineworld recently said post-Covid customers levels were lower than expected and blamed "limited" film releases.
Thoughts on this? I wonder what the outcome will be. Certainly in Glasgow, it's our only real cinema presence and would be a shame to lose the world's tallest.
I do remember they closed for quite a long time during COVID so that won't have helped them at all.
