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Do not know how they can sign chapter 11 in America. As the business is registered in U.K. minimal listing in America. CVA was mentioned last year as a scare tactic to the landlords. Will see over this weekend. Seems to be times to shock the market and yet give the banks the weekend to either acquiesce to Mooky and lend him more or prepare for effects of losing billions. Have a cold beer this weekend and see what next week brings.
can someone tell me why peopl are still buying ??
maybe they (CINE) even provoked this storm
I think it just aligns with their tactics and interest, so why bother denying it.
They will always be able to say, look, we did not confirm this, did we?
TGrus
If there was nothing in it, the statement would read, 'CINEWORLD notes the recent unfounded press speculation and confirms there are currently no discussions pertaining to filing bankruptcy proceedings. CINE is both shocked and disappointed that so many news outlets would run a story without first contacting the company to verify what can only be described as a blatant attempt to destabilise the shareprice of CINE for financial gain. An investigation will be commissioned and a number of complaints will be made to the Press Association prior to any legal action that may be taken. CINE will remain in discussions with creditors and the BoD are confident of reaching a conclusion that will be mutually beneficial to both creditors and shareholders alike. Further announcements will be made at the appropriate time'.
However, what they really mean with the statement they just released is, 'cat's out the bag, we're done'.
All the best
Does anyone else find it odd that the Algo's are still trading this share?
Surely they would have been switched off if this thing is going to zero.
As the source of information is unknown, we should still be hopeful, risk is my game and also my name. Risk assessment needs to be done to whether you have the wallet and stomach for this. As nothing has been confirmed by Cineworld I shall stand my ground . Good luck to you all
Just shows that media are in bed with Hedge Funds, they will spin off all sort of speculation rubbish, and will take up their arses just for the right amount of $$$
Cineworld did responded: "We don’t have anything to add beyond the statement we made on Wednesday" a spokesperson for the company said.... hmmm
Hanging in, who knows
Chapter 11...UK insolvency law...same principles
Ride or die time. I’m holding till the end 15k down :(
the bod were never great in the comms dept. They were always silent, even now. There must be a deal going on in the background
no comment can only mean declining it. Listed companies cannot not comment on events like this.
You yanks are dumb.. there is no such thing as Chapter 11 in the UK.. the media been spouting same crap
Cineworld did respond to media it looks like.
"We don’t have anything to add beyond the statement we made on Wednesday," a spokesperson for the company said.
What do we make of this?
"It's possible that the shares may regain value as the company emerges from bankruptcy. Or, as part of the reorganization of debt, the company may cancel old shares and issue new ones, leaving little or nothing to the original shareholders."