ITG report: casual dining Covid-19 activity

Report: UK casual dining responses to Covid-19

To support you with insight, inspiration, or even just a helpful resource, we are creating weekly Covid-19 Industry Reviews, detailing how brands and retailers across key sectors are responding to the current situation. Download ITG’s casual dining activity report here Visit itg.co.uk for more information and discover ITG reviews here: www.itg.co.uk/review

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Cinema closed billboard

Coronavirus threatens to bankrupt US cinema chains

Coming to a theater near you: a marquee with no movie titles on it, but instead big letters that say “gone out of business.” With movie houses nationwide closed by the coronavirus, big cinema chains like AMC Entertainment and Regal Cinemas parent CineWorld are at risk of filing for bankruptcy in the coming weeks or months — desperate moves that could result in hundreds or even thousands of theaters being shuttered for good, industry experts warn. In a Wednesday note to investors, Loop Capital analyst Alan Gould wrote that he…

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Cineworld cinema exterior

Cineworld in talks with lenders and landlords

Under-pressure Cineworld on Tuesday said it is in talks with banks about getting extra overdraft facilities, as it outlined measures to preserve cash. The firm, which had a $3.5 billion (£2.8 billion) debt pile as at December 31, said its entire estate of 787 cinemas in 10 countries has been closed due to the coranavirus crisis. Cineworld said it is “discussing the group’s ongoing liquidity requirements with our RCF​ (revolving credit facility) banks”. Cineworld shares today jumped 14.37p, more than 36%, to 53.98p after it updated on measures to preserve…

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