I really can’t see them surviving this. Looks like really bad timing on Cineworlds part –
“The payout was ordered after the chain was taken to court by jilted Canadian rival Cineplex following a decision by Cineworld not to go through with a takeover.
Cineplex alleged that Cineworld breached its obligations under their agreement and its duty of good faith after the deal was scrapped.
Cineworld had agreed to the takeover before the pandemic but cancelled it as lockdowns closed cinemas around the globe.”
Isn’t Cineworld one of those meme stocks that /r/wallstreetbets and /r/superstonk have been asking people to invest in and hold?
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I really can’t see them surviving this. Looks like really bad timing on Cineworlds part –
“The payout was ordered after the chain was taken to court by jilted Canadian rival Cineplex following a decision by Cineworld not to go through with a takeover.
Cineplex alleged that Cineworld breached its obligations under their agreement and its duty of good faith after the deal was scrapped.
Cineworld had agreed to the takeover before the pandemic but cancelled it as lockdowns closed cinemas around the globe.”
Isn’t Cineworld one of those meme stocks that /r/wallstreetbets and /r/superstonk have been asking people to invest in and hold?