London’s Trocadero Centre in Piccadilly Circus has won a high court battle against cinema chains Cineworld and Picturehouse Cinemas over millions of pounds in unpaid rent.The owners of London’s Trocadero Centre brought legal action against the two chains and the original tenant, Gallery Cinemas, over outstanding bills since June 2020. The three … [Read more...]
Cineplex accuses Cineworld of bad faith in day one of hearings over abortive takeover – RMOToday.com
Cineplex Inc. says a U.K. theatre giant acted in bad faith by delaying a takeover deal of the Canadian company and hoping it would default during the pandemic, a judge heard at the opening of its trial against Cineworld Group PLC. Toronto-based Cineplex is seeking to recoup $2.18 billion in damages from Cineworld after the company walked away … [Read more...]
Is the tumbling Cineworld share price a buying opportunity?
Seen anything good at the movies lately? The answer to that question is “no” for most people in the UK, who haven’t ventured into a cinema since last year or before. While cinemas have now reopened, industry operators such as Cineworld (LSE: CINE) are haunted by investor fears of weakened customer demand. That helps explain why the Cineworld share … [Read more...]
Cineworld secures new loans ahead of ‘unprecedented’ slate of film releases
The business said the move will provide it with the “financial and operational flexibility and resilience to execute on its business strategy as it resumes its operations”.It secured 200 million dollars worth of incremental loans from existing lenders, which will mature in May 2024. We remain confident in the prospects for our business and continue … [Read more...]
Cineworld faces legal challenge over alleged unpaid rent
Cineworld is facing a £1m legal challenge over allegedly not paying rents for a Southampton site.Marina Developments, a developer based in Southampton, claims that Cineworld has not paid rents and other charges since last March. Source: Cineworld faces legal challenge over alleged unpaid rent : CityAM … [Read more...]
Savills and Cineworld shareholders revolt over executive pay
The estate agent Savills and Cineworld, the UK’s biggest movie chain, have been hit by significant pay revolts by shareholders in a backlash over reward packages awarded to bosses during the pandemic. Almost 30% of investors in Britain’s largest cinema chain failed to back a controversial new award scheme under which bosses could be awarded more … [Read more...]
