For Film Fans Cineworld, world’s second largest cinema chain, is preparing to file for bankruptcy. London-listed, it ran up debt of £4 billion after losses soared during the pandemic lockdown. It has hired lawyers and consultants to advise on the restructuring process.
@Grouse_Beater Maybe if they did the £5 ticket like their competitors do. One of my sons likes going to the cinema but it's always the Vue. People don't have the spare cash now, especially if buying tickets for a whole family.
@twoifbysea71 Good thinking. Prices reached stupid levels. A family outing with food and ice cream could remove £70 to £100 from a pocket.
@twoifbysea71 @Grouse_Beater They got caught out with an acquisition just at the start of Covid lockdowns & pulled out of the deal. A court in Canada found in favour of the other side of the aborted deal & awarded 100’s of millions in compensation. That’s on top of massive revenue downturn & huge debt pile