Vista Group big customer Cineworld files for bankruptcy

The pandemic has disrupted the production of movies and so there are fewer blockbusters drawing consumers back to theatres. (Image: Getty)

Dan Brunskill

Mon, 12 Sep 2022

The world’s second largest cinema company, Cineworld, has filed for bankruptcy in the United States as it struggles to manage huge debts left over from the pandemic. The British-based theatre chain is one of NZX-listed Vista Group’s customers and has almost 750 sites around the world. The bankruptcy filing comes just days after Vista Group reported a 39% increase in half-year earnings as people began returning to the movies. Vista upgraded its full-year revenue guidance to somewhere between $123 million and $128m, up from...

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