Ster-Kinekor’s business rescue plans bears fruit
Ster-Kinekor observed an increase in cinema attendance during March and April, which was aided by the re-opening of more screening locations, increased trading time and the release of must-see titles.
Moneyweb reports that the cinema chain has been in business rescue since January 2021 after Covid-19 related trade restrictions and lockdowns led to a drop in cinema audience numbers.
Since adopting the business rescue plan, Ster-Kinekor has improved its operation and is now trading for at least six days a week.
Despite this improvement, business rescue practitioner Stefan Smyth said the attendance numbers still fall short of expectations.
Contributing to this shortfall was the poor performance of smaller film titles as well as the delay in content releases in March.
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