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Maybe in a sale they will get their entire money..I don’t know…I obviously hope it’s sold for more than the debt so there’s some left over for us!
But I just think if business was showing signs of getting back on track they would prefer to have their money making money ie repaid with interest
I don’t understand why a sale is the only way they would get their money back…if anything in a sale they wouldn’t get their money back - instead they’d get x pennies to the pound as I’m not sure a sale in these circumstances would be for more than they debt (I might be wrong).
Also about the advertising contract thing - my understanding is different. My understanding of what has happened there is - they have not cancelled it as of yet anyway - they currently have a company which handles their advertising but CW have tried to to see if they can find a supplier with more favourable terms or even do the advertising themselves - and use the c11 process to wrangle out of that contract too. The advertising company has raised an objection to this and started legal proceedings. I doubt this is going to go ‘all the way’ as can’t see the savings/benefits being worth the hassle of a court case.
Ian why would a sale be more attractive than getting all their money back + interest?
The way things are looking - give it a few months and it should be game back on! Movies coming out, revenue coming in…unprofitable sites exited?
An equity raise is probably warranted and sensible and something that probably should have been done a while ago….but then again no one foresaw the pandemic and unexpected cash flow squeeze…
I say again, as long as mooky hasn’t got anything underhand in mind towards retail shareholders - then he will
Likely try to preserve as much value as he can in his shareholding which in turn should lead to a reasonable outcome for us..
At the moment theres no real basis for the share to go in either direction from here - until some news (or reliable speculation) is released....so doesnt seem much point paying too much attention to the SP until then. Unless your trying to snag a low price opportunity or you want to quickly trade it. I'd expect LTH's and those who believe this is going to come good are going to be content just waiting for some news for now...
Unless there is some underhand activity in play by Mooky, in which he can somehow keep his share at the expense of smaller shareholders...my opinion is theres going to be a massive correction here.
The BP2 box office is all over the news....so all that talk of cinema being dead etc is just rubbish and this will be in the mind of all stakeholders when they consider options...CW should be back and flourishing very soon so the best thing for everyone is for them to be continued to be supported.
A dilution makes sense so CW dont have to go through this kind of squeeze again and can have a more stable path forward.
Wow - have CW categorically stated D4E was a nailed on certainty or did they say they it is a possibility?
I think Thursdays Meeting of Creditors could be an interesting one
Is there a limit on how many times a company can enter C11?
I'm wondering if with the additional lending now, and the hopeful decent performance of the current and upcoming movies they come out of C11 without a dilution or sale...even if they do its of course still going to be tight, but they might take their chances and worst case go back into a c11 in 12 months if needed (but by then movies should be pretty much back to normal and so they shouldnt need to). What will have happened in such a case is theyve used this opportunity to firm up the business, make it more efficient and bought some time...
Like i said before what makes this company different to others is that it is owned largely by an entrepreneur so used to being unconventional...
How CW end up coming out of this C11 is still to be seen - but you cant deny getting out loss making leases is an amazing result....if CW end up with only profit making sites on their books - thats brilliant...means all their assets are making profits essentially and obviously. They will certainly come out of C11 a much leaner business.
Genuinely very encouraged by the streaming comments. Getting streaming content on board coudl be a real game changer for cinema. It will sort the issue of content that has weighed the industry down.
Seriously have to ask - how a behemoth like CW could be 'put down' with so many positive prospects in the very near future. Just woudl make no sense!
Cant believe whats happened with this stock since i bought as an intended short trade for a quick 10% target lol Just makes no sense.
Hopefully things have turned a corner and teh people buying today have got their entry timings right.
Interesting article kmojo. Thanks.
Its good to see cinema operators can make a profit despite the limited movie slate. Also very encouraging about the discussions with streamers.
All should reflect positively on CW prospects/discussions with lenders.
Except the damn Cp judgement! lol
Wasnt Cine down yesterday too - but ended finishing green today....
What a clown...never thought my filter list would have so many names!
https://deadline.com/2022/11/black-panther-wakanda-forever-box-office-advance-ticket-sales-1235167041/
On today’s Disney earnings call, CEO Bob Chapek, who has often touted meeting the demands of the consumer in-home with Disney+, beamed at the top that the studio has “big plans for the big screen in 2023” before giving a shoutout to some of the big films.
DISNEY HAS BIG PLANS FOR THE BIG SCREEN IN 2023 ;)
What a strange day - all that fuss and noise throughout the day - and we (may well) end up green!
magmanus - could you please explain what you mean by halted? (sorry if its obvious!)
Dont know if anyone can get access to thsi article as its behind a paywall...
https://www.costar.com/article/1423306660/cineworld-to-cut-more-us-theaters-as-ticket-sales-slump
Oakland - im not sure how long youve been on this board, but theres been loads of chat on here about C11 over the past weeks.
I dont think companies entering C11 usually have them suspended from what I gather. US Ch11 is more bankruptcy protection/breathing space compared to administration in the UK.
So as things are at the moment - from my understanding - Cw have been given time to negotiate with suppliers/lenders/stakeholders in general to see if they can get their affairs sorted - without the pressure of payment demands etc.
Someone also posted on here recently (sorry cant recall who it was), a report which suggested that larger companies entering C11 more often than not - successfully come out of C11 (i think they said 70% - but i really cant recall for sure - so may be wrong).
Im not saying were home and dry here and it is nervy - but i think writing CW off at this stage is a little premature.
The ducks seem to be lining up....slowly...but its a case of whether its just too slow or just about OK!
Whats your understanding based on?