Cineworld Group PLC (05212407): administration
- Status
- Administration ended
- Administration began
- 2023-07-31
- Administrators
- Ian Partridge, Catherine Williamson, Simon Jonathan Appell
- Administrators' firm
- AlixPartners
- Formerly
- Cineworld UK Limited; JAD 1 Limited; Augustus 2 Limited
- Incorporated
- 2004-08-23
- Location
- Manchester
- Industry
- 64209 Activities of other holding companies n.e.c.
Why it went into administration
- Cash flow / liquidity pressure
- COVID-19
From the administrators' statement
4.14 Prior to the COVID-19 pandemic (Pandemic), the Group’s business was performing well and had expanded into the United States (US) with the acquisition of the Regal Entertainment Group in 2018.
4.15 The onset of the Pandemic placed significant pressures on the cinema and social entertainment sectors across the world. The government-mandated lockdowns and restrictions resulted in mass cinema closures in the early part of 2020. This abruptly cut off the industry’s main source of revenue and meant that the Group’s financial performance suffered significantly.
4.16 As cinemas re-opened, the Group’s business continued to experience pressures driven by the lack of major film releases, production delays and the increase in consumption of home entertainment alternatives.
Administrators' statement of proposals (2023-08-14) · Companies House register