RE: Rats and sinking Ship springs to mind !24 Aug 2022 11:12
Take it as you will.
Cineworld investors "will get zero" after the cinema operator said it was filing for bankruptcy in the US.
That's according to Barry Norris, founder of short seller Argonaut Capital, who said the company's management used too much debt for acquisitions to build an empire in a "sunset industry".
He told Bloomberg: "The capital structure is completely unsustainable, and that's why it's going bust."
Mr Norris added that Cineworld had the chance to raise equity but opted not to.