i think something worth considering in the question of debt is also how the banks that have the major borrowing on this.
The initial 3-4b was given precovid and has not received any pushback. (prolly cuz its a bullet)
In the logic or spirit in which banks pushed monly payable loans back 6-9 months it would not be all that unique if the banks lent some leniency and give Cineworld at best, the initial loan time, over a period of activity, rather than with 2years cut short
@ Calamari thats the best advice on here XD
the volume is nearing 80mil, what makes you react to a 1100 pound purchase?
I read a couple pages back that something similar occurred: (link provided by a good fellow forummember here)
https://variety.com/2020/film/global/cineworld-insolvency-process-uk-screens-closing-1234835567/
Yet, i dont seem to see the same SP reaction as we had on friday. Share price on 19 nov was quite "stable" considering the news. Any guesses?
Yes Mountainous, i agree, i would do the same.
i find it so illogical that banks would agree to wait march 2020 till june 2022 but all of a sudden, they cannot hold longer? just as we're about to recover.
they were able to keep the cash burn at a minimum with a crap movie lineup during the reopening of covid (other than that 1 month with Spiderman?)
For me, my guts still feels like there's too much about this and if someone looks at the investment potential of cineworld theyld be foolish to let this die
Again the same fenomena when the rns hit wednesday.
50-100x the annual volume sold under hours. (today after the Skynews, 170,000,000 shares traded under 3 hours) I can understand everyone wants to sell in panic of bankruptcy be who is on the buying side for 8,5 million pound.
Anyone have a view if there's big chunks bought by who or what?
Ian i hope you're right. but i guess we're all a bit biased cuz the alternative is a wipeout of our money.
Tbf i genuinely believe in the cash-making ability of cineworld and i would guess any bank would indeed rather save it than take a 100% hit on their loan. I mean most of the loans are bullets for 2025 and 2026.
I really fail to see the connection in how on wednesday - they state they are looking at all measures possible to reinforce the balance sheet and business contineus as usual to then on friday have rumous leak about initiation or engaging lawyers for bankruptcy
Am i too naiev or does this not add up somewhere?
If bankruptcy was coming and they knew about it, why not just RNS about it clearly rather than a vague all options-open message that basicly ment nothing
What a ****ing **** move to come out with most vague inconclusive RNS only then slip rumous of bankruptcy 2 days later
Might as well have been the insiders selling all their 200M in volume...
Why would this come out in news before official declaration?
yeah i dont have a bloomberg account so cant see. Would be very intrested to know who the big players were in these massive volumes the last 48hours...
where can you see this?
and this is all based on very vague text, without any decisions being made or any metric being disclosed.
Their expectations for 2022 where to get an attendance of 85%/90% of 2019 for uk/us. (check FS 2021 for info)
if their attendance is in line with cineplex and AMC, itll be more around 60ish so of course (you can check Q2 attendance of both), the actuals are gonna be below expectations.
so they are in fact correct in disclosing this. The rest is just logical business strategy without them even committing to anything.
I think the news is treated with some exageration but i might be biased cuz i'm holding Cineworld.
Maybe im missing something but, has anyone noticed the huge volume traded?
200 mil shares (1/7th of total shares) traded today
I can understand many people are looking to sell, but who the hell is buying this all?