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Cineworld – the answer to drowning in debt is ….er more debt?

Tom Winnifrith Monday 23 November 2020

 

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Cineworld (CINE) is drowning in more than $8 billion of net debt. Its net assets at the half year were just $1.2 billion and if you strip out intangibles that number falls to MINUS $4.3 billion. With Cinemas around the world either shuttered or likely to reopen to much smaller audiences what to do? Yup…take on more debt.

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About Tom Winnifrith
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Tom Winnifrith is the editor of TomWinnifrith.com. When he is not harvesting olives in Greece, he is (planning to) raise goats in Wales.
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And now from Wales, by just 30 yards, it is my new weekly video show. This costs 99p per episode, and you can either listen to, or watch, some sparky interviews with Staurt Ashman of Skinbiotherapeutics (SBTX) where I am 130% up in seven months but think the shares could 20 bag from here and bear raider Lucian Miers on macro economics his cooling feelings on cold and warming feelings on bitcoin and his big longs and shorts. Then there are a few thoughts on companies you must NOT own, including the latest nonsense from the scallywags at Powerhouse Energy (PHE).You can access the show HERE

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