Cineworld (CINE) has warned that it could become a box-office flop because of the impact of the coronavirus outbreak. In a worst-case scenario, the cinema operator envisages losing two to three months’ worth of revenues due to site closures. There is a risk that this would lead it to breaching its lending covenants – casting “significant doubt” over its ability to continue trading. Cineworld’s shares crashed by more than 40 per cent in response.
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