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None are making profits at the moment but grossly oversimplified example: if half were to fold now the remaining half would mine twice as much on the same costs (except power) and most if not all would then be in profit.

It should be but I think the $664m may be a loan facility so not necessarily all adding to debt (and interest payments) immediately.

It’s certainly not included in their expected interest payment figures so assume not.

“Although i wonder how much that added to the debt pile.”

$664m as the rest was refinancing existing loans.

Wolf - the total interest in their latest financial projections is no more than about $250m pa so pretty sure nothing is attracting 20% anymore - certainly not $1.9bn.

One thing I haven’t seen anything on though is whether any of that cash is required to fulfil commitments to Intel?

Or have they been able to walk away and just lose their deposit in the process?

Otherwise agree though, should have several months of breathing space, maybe 6+ but impossible to say exactly. Quarterlies out soon should give a few more clues though.

Actually they own about 80 pubs so a bit of a mix. Perhaps M&B is a good comparable?

From interims:

"The Restaurant Group plc had 423 restaurants and pub restaurants throughout the UK as at 7 September 2022. Its principal trading brands are Wagamama, Frankie & Benny's and Brunning & Price."

Agreed - though the impetus for selling still may have been them being strapped for cash and a sensible move to try and raise some - or may just have been a normal review of their property. As you say though looks like nothing extraordinary, but a welcome little bit of cash nonetheless.

Hi patience, I'm not sure about what the property was for, or intended for, but it looks like the deal was proposed/arranged in April well before the Chapter 11 and indeed it states on page 3:

"The Debtors have demonstrated compelling circumstances and a good, sufficient, and sound business purpose and justification for the sale of the Property prior to, and outside of, a plan of reorganization."

It goes on later to say:

"The Deed shall contain a restriction prohibiting the operation of a movie theater showing first run movies or other current content entertainment or commercial independent theatre on the Property for a period of twenty (20) years following the Closing" - but then also says they can show movies that aren't first run.

So, though I haven't read all of it, it looks like some kind of old property site that they still owned and may have a cinema on it but they had already decided they didn't want it. Whatever the case though the $1.8m is welcome!

Not sure Jeff but wouldn’t have been good. It was an important milestone hence the lift in sp but plenty more important steps yet.

Don’t know about the interest either but amounts in the projection suggest total payments of around $20m per month - so maybe 4% or so across all $6bn of loans? Hard to say though without more detail.

"It’s also been able to wipe out $1bn from its existing pile of loan obligations."

No, it hasn't. The $1bn of existing pile of loan obligations is being paid for by $1bn of new loan obligations so the total debt is unchanged.

LTHcine - Correct, as the note to the latest financial projection states:

"Note: Line 10 (Rent) includes repayment of Stub Rent in the amount of $5 million per month for four months, beginning on the last business day of November 2022 and ending on the last business day of February 2023."

The total amount of rent expected to be paid according to those projections, including the amounts above, is around $80m per month.

I swear you just quote loads of numbers without any idea what any of them mean.

The Greidinger family can’t sell their shares whether they want to or not and Goldman Sachs have reduced their holding not increased it.

And yes, please don’t give out any more information - unless, for a change, it’s correct.

Thanks and enjoy the film.

No - insiders cannot deal at certain times, like these. Basic stuff. They could have sold at certain times before the Chapter 11 but no way since.

Goldman didn't buy the dip - more dodgy dd from you.

"Insiders hold 20%+ of the total shares - why don;t you talk about that"

That's Mooky and Israel holding shares (in trust for their families I think?). It's not a surprise they haven't sold these given how much they want to hold onto the company plus they probably couldn't anyway at the moment as they'd be done for insider dealing. So it demonstrates nothing either way.

As to conjecturing that's exactly what "there millions trapped in 5-9 range" is along with most nearly everything else you type.

Here's the link. Scroll down for important dates.

https://cases.ra.kroll.com/cineworld/Home-Index

AB - it came out mid-December last year but was very late (they actually issued a note saying they couldn't issue on time - don't know why). So guessing it will come out later this month. Also it's actually their full year numbers as their financial year runs from Oct to Sep.

“PW has never said ARB has no one willing to lend?”

It was in one of his videos - the most recent one or perhaps the one before. He used words implying very difficult if not impossible. It struck me as a big change given how bullish Alex was only a month or two earlier about getting more funding.

I agree Helios is valuable but most of what’s inside it has already been borrowed against and as I said I would be surprised if envious eyes didn’t just wait for it to be going cheap in a wind-up.

You’re right though it is just my view - but one I’m pretty confident in.

*pump and dump

To be fair though the rise in sp is impressive today so either it's a classic pump or dump or there really is some surprise good news about funding on the way. Let's hope it's the latter!

Yep HC - you can lead a horse to water...

If you think the ramping and denial are bad here take a lot at the CINE board but to be fair CINE's prospects are actually better even though they are in bankruptcy!