The world’s second biggest movie theater chain is in trouble
뉴스
Author
TAN
Date
2022-08-19 13:36
Views
641
The owner of Regal Cinemas is having a tough time — its stock crashed as much as 80% Friday after reports that its parent company is preparing to file for bankruptcy.
British company Cineworld Group has spoken to lawyers at Kirkland & Ellis LLP to advise on the bankruptcy process in the United States and United Kingdom, according to a report by the Wall Street Journal.
The stock has recovered slightly, but is still 60% below its price at the start of Friday trading.
Earlier this week, Cineworld said in a press release that, despite a “gradual recovery of demand” since last spring, admissions were below expectations.
The company blamed a limited roster of films for the lack of moviegoers, a situation it expects to continue until the end of November.
The chain, which owns more than 500 movie theaters across the US, is exploring how to reduce its debt obligations, which it warned would “likely result in very significant dilution of existing equity interests” for shareholders.
Cineworld has struggled to stay afloat during the pandemic, when it was forced to close its movie theaters worldwide. It suffered a $2.7 billion loss in 2020, and $566 million loss in 2021.
It is a similar story for other movie theaters. So far this year, revenues at the US box office are nearly 30% lower than before the pandemic, according to Comscore despite a big rebound, a media data company.
Cineworld declined to comment to CNN Business on the reports that it is considering filing for bankruptcy. Kirkland & Ellis LLP did not immediately respond to CNN Business’ request for comment.
Source: https://www.cnn.com/2022/08/19/media/regal-cinemas-financial-trouble/index.html
British company Cineworld Group has spoken to lawyers at Kirkland & Ellis LLP to advise on the bankruptcy process in the United States and United Kingdom, according to a report by the Wall Street Journal.
The stock has recovered slightly, but is still 60% below its price at the start of Friday trading.
Earlier this week, Cineworld said in a press release that, despite a “gradual recovery of demand” since last spring, admissions were below expectations.
The company blamed a limited roster of films for the lack of moviegoers, a situation it expects to continue until the end of November.
The chain, which owns more than 500 movie theaters across the US, is exploring how to reduce its debt obligations, which it warned would “likely result in very significant dilution of existing equity interests” for shareholders.
Cineworld has struggled to stay afloat during the pandemic, when it was forced to close its movie theaters worldwide. It suffered a $2.7 billion loss in 2020, and $566 million loss in 2021.
It is a similar story for other movie theaters. So far this year, revenues at the US box office are nearly 30% lower than before the pandemic, according to Comscore despite a big rebound, a media data company.
Cineworld declined to comment to CNN Business on the reports that it is considering filing for bankruptcy. Kirkland & Ellis LLP did not immediately respond to CNN Business’ request for comment.
Source: https://www.cnn.com/2022/08/19/media/regal-cinemas-financial-trouble/index.html
Total 779
Number | Title | Author | Date | Votes | Views |
366 |
서세원 사망 기사만 보더라도 지금까지 몇차례인지 아나?
미국 수사관
|
2023.04.20
|
Votes 0
|
Views 361
|
미국 수사관 | 2023.04.20 | 0 | 361 |
365 |
Covid-19 vs Balloons vs 9-11 conspiracy
미국 수사관
|
2023.02.10
|
Votes 0
|
Views 1041
|
미국 수사관 | 2023.02.10 | 0 | 1041 |
364 |
아래 두 지표수 관리 부탁 드립니다.
미국 수사관
|
2023.02.06
|
Votes 0
|
Views 371
|
미국 수사관 | 2023.02.06 | 0 | 371 |
363 |
아래 두 지표수 관리 부탁 드립니다.
미국 수사관
|
2023.02.06
|
Votes 0
|
Views 328
|
미국 수사관 | 2023.02.06 | 0 | 328 |
362 |
Joe Biden과 US media가 함께 하는 쇼 화투.
미국 수사관
|
2023.02.02
|
Votes 0
|
Views 347
|
미국 수사관 | 2023.02.02 | 0 | 347 |
361 |
현재 거짓 US media 쇼.
미국 수사관
|
2023.02.01
|
Votes 0
|
Views 863
|
미국 수사관 | 2023.02.01 | 0 | 863 |
360 |
한국 미스 코리아:2006년, 이 하늬, 그녀의 진실.
미국 수사관
|
2023.01.21
|
Votes 0
|
Views 844
|
미국 수사관 | 2023.01.21 | 0 | 844 |
359 |
한국 미스 코리아:2006년, 이 하늬, 그녀의 진실.
미국 수사관
|
2023.01.21
|
Votes 0
|
Views 615
|
미국 수사관 | 2023.01.21 | 0 | 615 |
358 |
“집 밖이 무서워요”…서울에만 ‘고립·은둔 청년’ 13만명
Jade
|
2023.01.18
|
Votes 0
|
Views 407
|
Jade | 2023.01.18 | 0 | 407 |
357 |
미국에 FBI 없습니다.
미국 수사관
|
2023.01.11
|
Votes 0
|
Views 610
|
미국 수사관 | 2023.01.11 | 0 | 610 |
356 |
Japan Cabinet Satellite Intelligence Center (지금 3차 대전중)
미국 수사관
|
2022.10.02
|
Votes 0
|
Views 500
|
미국 수사관 | 2022.10.02 | 0 | 500 |
355 |
한국 입국 시 PCR 검사 폐지
천죠
|
2022.09.16
|
Votes 0
|
Views 1280
|
천죠 | 2022.09.16 | 0 | 1280 |
354 |
House GOP demands Meta’s communications with the FBI over Hunter Biden report
TAN
|
2022.09.02
|
Votes 0
|
Views 510
|
TAN | 2022.09.02 | 0 | 510 |
353 |
The University of Texas is offering a class on the songs of Taylor Swift
TAN
|
2022.08.26
|
Votes 0
|
Views 567
|
TAN | 2022.08.26 | 0 | 567 |
352 |
The world’s second biggest movie theater chain is in trouble
TAN
|
2022.08.19
|
Votes 0
|
Views 641
|
TAN | 2022.08.19 | 0 | 641 |
351 |
숙명여대 웹사이트에 ‘숙명민주동문회’ 김건희 논문 관련 현재 있나요?
미국 수사관
|
2022.08.13
|
Votes 0
|
Views 684
|
미국 수사관 | 2022.08.13 | 0 | 684 |
350 |
Rain pours into some Las Vegas casinos and floods streets in the wettest monsoon season in a decade
TAN
|
2022.08.12
|
Votes 0
|
Views 1094
|
TAN | 2022.08.12 | 0 | 1094 |
349 |
Robert, Gemma Riccardi unaccounted for after overnight fire at Morristown mansion, prosecutor says
TAN
|
2022.08.05
|
Votes 0
|
Views 489
|
TAN | 2022.08.05 | 0 | 489 |
348 |
Now should I worry about monkeypox? Our medical analyst explains
TAN
|
2022.07.28
|
Votes 0
|
Views 830
|
TAN | 2022.07.28 | 0 | 830 |
347 |
여기 사이트 관리 하시는 admin 기술 양반,
미국 수사관
|
2022.07.25
|
Votes 0
|
Views 619
|
미국 수사관 | 2022.07.25 | 0 | 619 |