RE: Today's Sunday Times....22 Nov 2020 19:03
Hmmm as i understand the 11% interest 250million loan is secured by mooky's family trust fund, which, happens to hold shares in cineworld. So if cineworld goes bankrupt, this debt ceases to exist, as they are in effect, secured on shares.
Stagecoaches last yearly accounts show a net debt, yes. While cineworlds last yearly accounts show a net equity. I would surmise that comparing net debt of stagecoach to only liabilities (excluding assets) of cineworld is a somewhat distorted approach.