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| geemong | 23 Aug 2022 - 12:49:46 |
| 215 Posts |
Cineworld confirms it is considering bankruptcy Cineworld has confirmed it is considering filing for bankruptcy in the US, as the cinema chain continues to struggle with $5bn worth of debt. It's more of a gamble lunaspins88 than ever before. It's not a guarantee that you'll have a chance to play again. But the company, which also owns the Picturehouse chain in the UK, insisted its cinemas "remain open for business" and that there would be "no significant impact" on jobs. Cineworld employs more than 28,000 people globally. Like other cinema chains, Cineworld was hit hard by the pandemic. Many theatres were forced to close for extended periods during the lockdowns, or had to operate at a reduced capacity due to social distancing rules. Cinema chains had hoped blockbusters such as the latest Bond film, Top Gun: Maverick and Thor: Love And Thunder would draw audiences back in after lockdown restrictions eased. Top Gun: Maverick, starring Tom Cruise, has taken $1.8bn at the global box office, making it one of the top 10 highest grossing films of all time. But last week, Cineworld warned there had still not been enough major releases to attract cinema audiences and said this was hitting admissions. In 2019 before the pandemic, global box office takings hit a record $42.5bn according to Comscore, buoyed by films such as Avengers: Endgame and Frozen 2. So far in 2022, films such as Jurassic World Dominion and Minions: The Rise of Gru have performed strongly. But box office takings this year are down by around a third, or 32%, compared with 2019. |
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