(Photo by Denise Jans on Unsplash)
Ster-Kinekor announced that it opted to commence with a business
rescue process this week, to return to profitability.
Cinemas have been left
reeling by the Covid-19 pandemic’s disruption to international box office releases
and lockdown restrictions of gatherings.
The process will be led by partner at
EY South Africa Stefan Smyth while movie goers will still be able to attend
screenings.
Ster-Kinekor announced on Friday afternoon that its board of
directors opted to commence with voluntary business rescue on Wednesday,
following what has been a hellish year for cinemas in the midst of the Covid-19