This is the end of Cinema City? The owner is getting ready for bankruptcy

Last week, the company warned investors that it was in talks to restructure the business. The press release also said that “it is taking steps to improve its balance sheet and financial flexibility.”

The Financial Times reports that Cineworld has said it will “maintain operations over the long term without significant impact on its employees,” but that filing of the application could result in “very significant deterioration of existing equity holdings in Cineworld.”

Fewer and fewer viewers in cinemas

The Wall Street Journal reports that the company is looking for an investor.

Virtual Media cites the Cineworld announcement and notes that though the situation in the cinema industry is improving Since the cinemas reopened in spring a year ago, the number of viewers is still below expectations. “Such lower attendance levels, resulting from a smaller offer of prime ministers, are to last until November 2022” – it was written in the press release.

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