Cinemas hit by money worries

Cineworld, a company that owns lots of cinemas in the US and the UK, has said that it may file for bankruptcy in the US. This happens if a person or company has too much debt (they owe too much money to banks or other companies). It involves a company selling things it owns to pay back the money, and it can mean it has to close completely. During the Covid-19 pandemic, cinemas were ordered to shut and when they opened again they had to obey social distancing rules, so they couldn’t sell as many tickets as usual. Cinemas are also having to compete with home-streaming services, like Netflix, which became more popular in the pandemic. Across the world cinema ticket sales are 32% lower than in 2019 this year.…

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