BUSINESS

Cineworld Takes Stock

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.

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Edited by Jesus Chan

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