Cineworld Group plc, the British entertainment conglomerate based in London has seen its share fall more than 60% much to the chagrin of stockholders.
The company, which also owns the Picturehouse chain in the UK, is struggling under $5 billion worth of debt.
The pandemic crisis took a toll on the company’s bottom line and it is now set to file for bankruptcy.
Cineworld recently noted that its post-Covid customers’ levels were lower than expected and blamed “limited” film releases.
Support The Readers Bureau Buy A T-Shirt Today (4 different colors)! Click https://www.bonfire.com/one-love-72/?fbclid=IwAR2bod-XSyrCPutOwG_SMnKiInk6Bqe2kCtjBsAFISqHluQcujrF2UUkFew
Readers Bureau, Contributor
Edited by Jesus Chan
Do you want to add feedback to this story?
Please add a comment in the box below or send an email to email@example.com, Call us at 646-874-7976