15/11/2024
Some of our employees invested £41,000 of their pension savings into Cineworld shares and lost everything when the company owners took too many risks and had to go bankrupt. We think this article discussing why people might boycott Cineworld speaks for itself since the owners negotiated a nice £28 million exit deal and yet the cinemas remain open with the money now going directly to the banks and lenders.
As the new owners the banks have increased Cineworld's prices to increase their return, so at the time of this post Cineworld charge £13.99 a ticket (£27.98 for two people) plus a £1.90 "booking fee" (?). That is 12p short of £30.00 for two people to go to the cinema.
Vue's website shows tickets start from £4.99 and no booking fee. A total of just £9.98 for two people to go to the cinema to watch the same films in similar comfort. You could go 3 times and pay no more than if you went once to a Cineworld cinema..
We question why banks feel confident they can do what they like and customers will go along with it. Perhaps people will vote with their feet..
READ: https://www.youcom.co.uk/news89/
[Disclaimer: post holds opinion only based on experience and is factually correct at time of posting]
Boycott Cineworld? Owners took millions from the company and bank lenders wiped out the shareholders
