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Cineworld PLC considers CVA – what does this mean for cinema’s future?

Cineworld PLC is currently in amongst talks with advisors and creditors to enter a CVA agreement. A completely voluntary agreement means a chance to wipe off unsecured debts and restructure agreements with landlords. The company has currently shut all 657 sites across the U.K. and America. The Financial Times is reporting that the consideration is being used to cut costs across the board to aid its survival. CVA’s are a way to prevent a company from entering administration and going bankrupt. Sites can also be expected to close as the company looks to…

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