Cinema chain Ster-Kinekor has successfully exited the business rescue process and has returned to solvency. This was confirmed by the group’s business rescue practitioner Stefan Smyth on Friday morning. The announcement, which is likely to be welcomed by cinema goers and landlords, comes after the company voluntarily entered business rescue on 26 January 2021 after it was impacted by the Covid-19 pandemic and the subsequent hard lockdown.
Trade creditors will further benefit from on-going trading with the company,” he adds. Ster-Kinekor says its creditors will assist in maintaining and further developing its “market leading position” moving forward. Smyth points out that cinema attendance continues to improve with the “stellar performance” of Top Gun: Maverick.
sterkinekor NDL_ndumeey Loved going to movies but the picture quality is so poor on many of their cinemas I wondered what the hell I was paying R100 for? So I stopped going...
sterkinekor NDL_ndumeey Fantastic news, they went through a tough time but pulled through 👌🏻
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