RPT-Cineworld could breach debt terms in worst case virus scenario
(Repeats to change story keyword used by media customers)
LONDON, March 12 (Reuters) – Cinema operator Cineworld could breach the terms of its existing debt arrangements under a worst case scenario for the impact of the coronavirus over the next few months, the company said in its annual results release on Thursday.
It said the downside scenario, in which it would close all cinemas for between one and three months, was currently considered unlikely but “would indicate the existence of a material uncertainty which may cast significant doubt about the Group’s ability to continue as a going concern.” (Reporting by Patrick Graham; Editing by Anil D’Silva)
Source: Read Full Article