STER-KINEKOR PLACED UNDER VOLUNTARY BUSINES RESCUE

It seems as if COVID-19 is about to claim another South African business. Ster-Kinekor has released a statement saying that the company has been placed under voluntary business rescue in an effort to facilitate the rehabilitation of the company.

Until February 2020, the movie outlet has been welcoming millions of movie goers every month for decades. Unfortunately, the COVID-19 restrictions has meant that the company couldn't open its doors to the public for four months and, even after that, the restrictions mean that theatres can't operate at full capacity.

In the statement, the company said that "as a result of the COVID-19 pandemic and the consequent economic lockdown instituted by the South African government at the end of March 2020, all cinemas were required to shut down, and only permitted to reopen under strict conditions as from the end of August 2020".

The company has however, confirmed that theatres will remain open and that strict COVID-19 protocols are still followed with every second seat unavailable for use, sanitising of cinemas between screenings, and temperature checks as patrons enter the theatres.

Ster-Kinekor has been operating in South Africa since 1969 and still holds the biggest market share in the country. Their IMAX theatres include larger than normal screens and have proven to be a massive hit with new 3D releases.

Image credit: School Media