The cinema giant, led by CEO Moshe Greidinger, eyes a reopening of its U.K. sites from May, but reiterates continued uncertainty “around its ability to continue as a going concern.”
The U.K.-based company also said it has secured binding commitments for $213 million in additional cash via a bond to boost its financial flexibility “in the event of continued disruption as a result of COVID-19.” The funding and an expected $200 million U.S. CARES Act tax refund “will provide the group with a liquidity runway to year-end in the event that cinemas remain closed,” it said, but it also warned of continued challenges and questions marks caused by the pandemic.