Continued delays to new films is bad news for the chain, which is burning through an estimated $50m per month while its cinemas remain shut.
Coming from a family with a 90-year history in cinema, it is probably no surprise that Mooky Greidinger refused to listen when told the big screen was dead.
Despite the naysayers, the chief executive of Cineworld ploughed ahead with an ambitious expansion plan that transformed his firm into the world’s second-largest movie theatre group through a $3.4bn (£2.4bn) reverse takeover of US chain Regal in 2018.
Refusing to stop there, Greidinger opened a new front in his battle for North America in December with a swoop on Canadian rival Cineplex for $2.1bn.
Source: https://www.telegraph.co.uk/business/2020/07/26/cineworlds-survival-spotlight-cinemas-woes-deepen/