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Depends what margin those sites weremaking and whether it’s more or less that the fixed costs.

You still have to pay rent, rates, utilities, etc. makes sense where they have been able to terminate leases of course as the costs are gone.

They’ve been allowed to walk away from about 40 leases if I recall correctly. There’s still another 960 odd that they are bound to, putting it in perspective.

Magmanus - the problem you have is that if you look at what’s happening at the minute with the C11 and actually listen to what the company have been telling you and look at the financial projection they produced for the first day motions they are still in dire straights despite this supposed excellent quarter - which given what we know about the poor slate doesn’t really add up. Perhaps a recovery on the previous poor year.

That’s never going to happen. My firm which supplies to the trade had an incoming payment stopped by a major bank because somewhere up the trail of companies and the money tree there was a connection to a sanctioned party.

We were not given any explanation other than the bank were not going to honour the payment and if we were to obtain it by any other means we would be in breach, so we’ve had to write the debt off.

The point being the impact of the sanctions on individuals and companies is so vast due to the nature of globalisation and the thought that the government could put everyone right who is affected is an impossible dream.

Hi coachman - the housing point was specific to my local cinema which is just off the town centre.

The more important point I was making is that they are usually in prime locations and therefore landlords can easily re-let in those prime locations or sell for redevelopment. The buildings are large and can easily be adapted into other uses.

I was at resorts world in Birmingham the other week and there is a cineworld there. If that became available it would be snapped up in a heart beat.

Smaller town locations, who knows.

Hi poor anyone who bought in the 2021 raise will be sitting on a profit now with the best to come with plenty of trading opportunities in between. The company is at the start of its implementation with a whole new market to create working with some of the largest games companies in the world.

Renewables & EV are one of the biggest growth opportunities out there at the moment. Seems strange to scale it back unless it's a distraction.

The only problem with a restructure is the gulf between debt and potential future valuation meaning debt holders are going to have to take a significant haircut and won’t leave much equity stake left for existing holders.

Even if they sold Regal if hard to see anyone outside the DIP holders recovering anything.

‘And you can’t make a cinema into stupid housing ’

Why not?

Hi couchman - my guess would be that most of these cinemas are in prime locations. That might be why the landlords haven’t been a push over as they could change use or redevelop the sites.

I know for example that my local cinema could easily be redeveloped into student housing as it’s just off the town centre.

Magmanus - the proposed merger is between CP and Regal, not CW and CP.

How would that be good for CW other than giving the creditors a bit of debt relief or a stake in CP. Perhaps the legal case would fall away?

My my friend Poor is pulling up people for ramping the whole world has gone mental!

They will have to sort this out asap really. To not have your accounts audited you’ll lose all financial credibility, it will be very difficult to deal with customers, suppliers, borrow, pay correct tax, etc, etc. I’d expect they be in breach of loan their loan borrowings, etc.

Magmanus - I don't post on many boards. I certainly am not responsible for anyone being spiked that's for sure.

Magmanus - Have you no shame. How many people have you encouraged to get spiked here, yet you're still waffling absolute boll ocks.

I can't remember exactly what it said but there was a RIO piece in the IC last week in which it stated about the Aluminium production being a current boost here. If I recall correctly I think we are benefiting from the drop in Russian exports.

If it drops much lower I'll be adding. I've only got a residual holding these days which I was going to hold onto for sentimental purposes but I still thing the growth story is immense here.

BMW, Mercedes, etc, re still so far behind especially with their ranges. I've got my company car swap coming up and was looking at the Mercedes EQC but it's only doing about 200 miles. Also looked at the BMW X5 Phev but that would be harsher on BIK. Weighing up a model Y performance at the moment.

Yes these people take a slight dip during bad times rather than ending up on the seat of their a rse.

It's all the Twitter nonsense that's had such a damning impact. I've had an order that was supposed to be delivered in March and is coming next week. I don't know if that's a good sign or not. Cars are only showing 3-5 months lead time which has come in quite a bit. Hopefully that's because of increased production rather than a fall in demand.

Shareholders do not get a vote on c11.

The creditors do, hence why the D4E will result in major dilution. If it was up to shareholders no restructuring plan would ever go through as it’s usually at their expense.

It’s up to the company to put together a plan that is palatable to the lenders which will most likely see them take a huge haircut but come out with something at the end of it to compensate going forwards.