Lardlord AEW presses on with Cineworld legal action despite closures October 8, 2020 Property firm AEW UK is reportedly going ahead with its legal action against beleaguered cinema chain Cineworld over unpaid rents, despite the closure of all of the firm’s theatres in the UK. AEW is suing Cineworld for around £200,000 of unpaid rent. The cinema operator has closed all of its UK and US cinemas after [...]
Licence to kill: Will the Bond debacle be fatal for the UK’s cinema sector? October 6, 2020 It was a plot twist that would have made Ian Fleming proud. For decades James Bond has been a leading light of cinema, delivering a reliable string of blockbuster hits to line pockets in Hollywood. But overnight the suave spy has been transformed into a villain, and has left cinemas fighting for survival. The decision [...]
Cineworld to close all UK theatres over Covid-19 film release delays October 4, 2020 Cineworld is reportedly drawing up plans to shutter its entire collection of cinemas across the UK and Ireland
Cineworld warns on future as it sinks to $1.6bn loss September 24, 2020 Cineworld shares sunk 15 per cent at the open today after warned it may need to raise cash after the cinema chain sunk to a first-half loss of $1.6bn due to the coronavirus outbreak. The figures Cineworld posted revenue of $712.4m in the six months to the end of June, down 67 per cent on [...]
Coronavirus: Cineworld in legal battle over unpaid lockdown rent August 17, 2020 Cineworld is said to be facing a legal challenge from one of its landlords after the cinema chain failed to pay rent during the coronavirus lockdown. The London-listed cinema group is understood to be withholding rent from property giant AEW after it was hit by closures due to the Covid-19 crisis. AEW has now filed [...]
Late screening: Cineworld pushes back reopening until 31 July after film delays June 30, 2020 Cineworld has pushed back the reopening of its cinemas in the UK and US by three weeks to 31 July. The world’s largest cinema chain has originally planned to reopen its doors on 10 July in the UK, after the government gave venues the green light to start operating again from 4 July. It said [...]
Cineworld to reopen UK cinemas with social distancing measures on 10 July June 16, 2020 Cinema chain Cineworld today revealed it will reopen UK cinemas from 10 July as it hopes blockbuster releases including Christopher Nolan’s Tenet and Disney’s live action Mulan will attract wary punters to its screens. Cineworld’s UK cinemas will reopen after more than three months of lockdown after Prime Minister Boris Johnson ordered all non-essential British [...]
Cineworld sparks legal row by pulling out of £1.6bn Cineplex takeover June 15, 2020 Cineworld has pulled out of its £1.6bn deal to become the biggest cinema chain in America, sparking bitterness and the potential of a legal battle. The London-listed company claims Cineplex, Canada’s biggest cinema chain, has suffered a “material adverse effect” under the terms of the deal, which included a ceiling of $725m (£578m) on its [...]
Cineworld shares soar as it secures $110m cash boost for July reopening May 28, 2020 Shares in Cineworld jumped almost 25 per cent this morning after the chain said it had secured $110m (£90m) from lenders and hoped to reopen cinemas by July. The UK cinema operator said it had secured the cash through an increase in its revolving credit facility. It has also been granted approval to apply for [...]
Cineworld shares soar as chain outlines coronavirus battle plan April 7, 2020 Shares in Cineworld have soared more than 40 per cent this morning after the cinema chain outlined its plans to survive the coronavirus outbreak. The group’s entire estate of 787 cinemas across 10 countries have been closed due to the coronavirus pandemic. This morning the company announced its executive directors have postponed salary payments to [...]