Member Info for Bertles

@Owls

Its broken back to 30p, its broken 29p and its broken 28.5p and ended up in the 27's today.

This is a seriously troubled and mis-managed company. Even with all the office closures and Covid related savings which are massive, this is still headed for a full year loss this year. Its a company no longer in any sort of control on margins.

RWC and Schroders have lost an absolute fortune on their original holdings since last year on this. Eye watering loss.

Schroders have been forced into building a consolidated position recently. The MC had become pitiful.

They are firmly pursuing Plan B as they have no other option but to protect their interests.

Its only a matter of time now........

His £92k investment is only now worth £45k (and declining)

Thats a loss of £47k......

As I said, denial.....

Its not really an argument to be had with someone in denial

You're over 50% down already........

Problem is Cineworld would have been out of the equation for at least 6mths by next April.

Even if they make it 2021 will only be 3 Qtrs trade for them

People's disposable incomes go elsewhere in the meantimes. Online streaming take up should be huge right now. We are entering the winter months, colder darker evenings and people tend to stay indoors anyway.

Its all played into the hands of Streaming. Cinema was co-existing with these new platforms. Now they are shut its full on momentum towards streaming for at least 6mths.

Covid has simply accelerated the swing away from Cinema. One door shuts and another swings wide open. Even pubs, clubs and restaurants will re-open long before Cineworld does.

The signs look very bad for Cineworld all round. This is no longer a sensible or viable investment at this stage.

I'm afraid rampers here sound like drowning men clutching at straws right now.....

Cineworld is shut down, no blockbusters until next year, debt piling up and its running out of cash with covenant tests coming up.

Using your analogy of restaurants, this is a restaurant with no food to sell, the doors and windows are boarded up. Theres no real chance of this opening up until possibly April. People will and are simply going elsewhere to eat now.

This one is not for gamblers, its only for the foolhardy rampers for the forseeable future.

https://www.google.com/amp/s/www.thisismoney.co.uk/money/markets/article-8837011/amp/Cineworld-set-run-cash-weeks-analysts-warn.html

Analysts warning looks dire......

As suggested before on any re-opening after a mothballing until April will involve a review of poor performing sites.

Some sites may never re-open.

Mookys statement about a 2mth closure will be laughed off. The worst thing is re-opening and having to shut down again.

Its a bumpy road ahead with Covid so I suspect this will now stay shut until studios are happy to release the major films.

No surprises in this move.

Lenders will be seriously worried as to the likelihood of recovering their money.

A CVA is on the cards but the advisors may say doing a restructure and sit it out might stand a better chance of recouping money.

Its not looking great right now.

But the rub is, its closed because its unviable.

Businesses that can no longer operate inevitably shut down for one reason or another

Where there is a loss, there's also an opportunity.

If Cine fails then other operators will rub their hands in glee and take up the slack.

This is not about Cinema but more about Cineworld as a business. The nature of Covid however is a catalyst for movie consumption to move away from cinema though.

Cineworld is the 2nd largest cinema chain in the world. Its closure will effect the industry.

Cinema itself will survive and there could be a big consolidation in the business by its competitors, studios, streaming.

There is a high risk now that Cine will fail. It will leave a huge void but thats all the more opprtunity for new owners to step up and fill it

If cinemas shut down and fold, then Studios will waste no time finding alternative routes to market. Consequently the public will consume it via other channels.

A cinema is just an empty hall without any films. The content is the movie.

Over investing and constantly averaging down is a sign of illogical emotional attachment.

You should set your limits and call it a day at that. Cineworld is as dormant as a dead duck for now.

As predicted the closure has been confirmed.

Mooky never had an alternative, case of matters overtaking events.

The mothballing is understandable but there is inherent weakness and uncertainty for the forseeable future. The UK govt has indicated things will be bumpy until Christnas and possibly into next Q1.

With debt and covenants overhanging Cine there is potential for further downside ahead.

And you cant blame MGM to.pull it and protect their investment.

Piracy argument aside, they would have lost out on tons more had they gone ahead and released in Nov. No way they were going to release it whatever Mooky thought.

PVOD and the streaming model is direct to your home. The model can also be changed as and when.

Cinema's unfortunately can't. Mooky is now the salesman with nothing to sell with no one there to buy....

There's no value in playing high stakes poker with a busted flush....

There is no furlough scheme now. If they shut for 5months to save costs then they will have no option but to make staff redundant.

Once the cinemas have shut there is no guarantee they will open, if or even when. There will be a part of their estate that never really made money and I would doubt those sites ever re-opening.

Problem is, you lost all your staff in the meantime so who will you ever re-open with?

Its not a great outlook Im afraid

The letter will get binned anyway.

The Chancellor has put paid to furlough and also said there is no sense in supporting unviable jobs or businesses.

I understand some people are trying to hang on and clutch onto whatever. Unfirtunately there's nothing to read between the lines, its all very transparent. Cineworld cinemas are being shut down. There will now be job losses, collapse of share value, lenders seeking clarification etc etc Those saying this is a good move unfortunately simply dont understand the world of big business. This is the very last thing Mooky would have wished to do.

Mooky had a weak hand.

On one side the lockdowns have killed the business. On the other the studios have turned off the supply.

Hence Cineworld in the middle kind of dies. Mooky has now folded his hand. Theres no double bluff going on here unfortunately.

No leader of a business like this announces a shut down of US, UK and Ireland cinemas as some kind of 'game' or brinkmanship. There will be job losses and lenders will be anxious to get their money back from now on.

The letter to the government confirms his business is unviable. Its just spitting feathers really, nothing other than a 'thanks for not helping us out'

Its a sad day for cineworld. Im not sure they as a company will now survive.

Cinema itself however might in some shape or form or in the hands of another organisation. That will be clearer by next year I would say