The new coronavirus couldn’t have come at a worse time for the world’s second-largest operator of movie theaters. WSJheard explains how its grand consolidation plans may not play out as envisioned. WSJWhatsNow
Few stocks have been hit as hard by the coronavirus crisis as Cineworld, the world’s second-largest operator of movie theaters. Its troubles follow a script that will be played out many times and in many ways across the leisure industry in coming months.
The shares have fallen 71% since the start of last week as cases of Covid-19 have mounted in the U.S., where Cineworld owns the Regal Cinemas chain. On Thursday, investors took particular fright when the company included an auditor’s “going concern” warning in its annual results:...
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