The chain had appeared to be on a solid trajectory before COVID hit in March, forcing theaters around the country to close. “Film and all creative arts are an integral and powerful part of the joy of the human experience, a way for us to better understand the lives of those around us and to come together, which we cannot afford to lose.”
“Please know that each and every one of you are valued and integral to SMG’s success and be assured that this restructuring demonstrates a commitment to SMG’s future as we strive to preserve our mission of Opening Hearts and Minds, One Story at a Time,” he said. He emphasized the theaters remains open for business as usual with “the same standards of excellence and safety.” We intend to move through the process as quickly as possible,” Schultz said. “We plan to use this filing to strengthen our business by reducing liabilities and reposition SMG to emerge a stronger organization built for the future as we recover from the unparalleled impact of COVID-19. Cineworld Abandons Plan To Sell Businesses In Israel, Eastern Europe
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