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Ster Kinekor seeks extension to publish business rescue plan

Ster-Kinekor's business rescuers Stefan Smyth, a partner at EY South Africa, will not publish the Business Rescue Plan by end of May as initial stipulated. ....

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Ster-Kinekor enters business rescue, but cinemas will stay open

Ster-Kinekor announced on Friday that it had commenced voluntary business rescue proceedings on Wednesday, despite its theatres being open nationwide. ....

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Ster-Kinekor enters business rescue

Denise Jans/Unsplash
South Africa’s largest cinema chain, Ster-Kinekor, has been placed into voluntary business rescue after it fell victim to the Covid-19 lockdown measures, which forced it into a loss-making position.
“As a result of the Covid-19 pandemic and the consequent economic lockdown instituted by the South African government at the end of March 2020, all cinemas were required to shut down, and were only permitted to reopen under strict conditions as from the end of August 2020,” the company said in a statement.
“Since then, the company has been operating under various forms of restriction, including curfews and mandatory limits to the number of guests per auditorium.” ....

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