Cineworld to reopen all movie theaters
John David WashingtonThe FTSE 250 company expects government limits on cinemas to be lifted by July in the 10 countries where it operates. Cineworld has 787 sites in england, eire, most of us, Israel as well as some countries in Eastern Europe.
It in addition has secured $110m (100m) Of extra cash by increasing the amount it can borrow from lenders.
The firm said this will give it enough cash to survive even if cinemas are shut for all of those other year which it considers very unlikely.
Covid 19 could threaten its survival by putting agreements with creditors at risk.
Shares soared 23pc to 95p on the change, But the stock continues to be trading at about half its pre crisis level.
The cinema experience is expected to change a whole lot when theatres reopen due, With empty seats between groups of viewers to ensure social distancing.
Cineworld said it has put processes in place to ensure a "Safe and enjoyable cinema see" For team and customers.
It is thought these measures will comprise of an updated booking system to allow family groups to sit together. Film times could also be staggered to prevent crowds gathering in lobbies.
Rival Vue announced similar measures earlier this month.
analysts at Citi said: "The target for the opening of cinemas in July is in step with wider market expectations, Although at this stage it is unclear how strong the demand will be.
Trolls World Tour online during the pandemic and said it would continue to make new movies available to stream when cinemas reopen.
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