Cineworld cinemas say it could SHUT DOWN due to coronavirus as shares plummet dramatically
The cinema chain said it could struggle to pay its debts in such a situation and this would in turn “indicate the existence of a material uncertainty which may cast significant doubt about the group’s ability to continue as a going concern.”
Mooky Greidinger, Cineworld chief executive, added: “Should conditions relating to Covid-19 continue or worsen, we have measures at our disposal to reduce the impact on our business including, but not limited to, capex postponement, cost reduction, in order to maintain cash liquidity.
“However we have highlighted the potential impact this could have on the group within our growing concern statement.”
Additionally, Cineworld has contacted its customers to update them on what steps the cinema chain is taking to help minimise the spread of coronavirus.
Published at Thu, 12 Mar 2020 14:51:00 +0000