Exhibition giant and Regal owner Cineworld Group on Thursday reported lower 2020 financials, including its first-ever full-year loss, due to the coronavirus pandemic, which left cinemas in many parts of the world closed for large parts of the year.
The U.K.-based company also said it has secured binding commitments for $213 million in additional cash via a bond to boost its financial flexibility "in the event of continued disruption as a result of COVID-19." The funding and an expected $200 million U.S.
CARES Act tax refund "will provide the group with a liquidity runway to year-end in the event that cinemas remain closed," it said, but it also warned of continued challenges and questions marks caused by the pandemic.
Read more on hollywoodreporter.com