Cineworld PLC (LON:CINE) has scrapped its dividends for the remainder of 2020 to save cash while directors have deferred their salaries, bonuses during the coronavirus crisis.
All 787 cinemas owned by the group in ten countries are closed due to the impact of coronavirus and the group warned last month it might be forced to shut down.
The company has net debts of US$3.5bn and is in talks over its liquidity requirements with the providers of its revolving credit facility.
Discussions are also ongoing with landlords, the film studios and major suppliers while it is monitoring the progress of its proposed US$2.1bn acquisition of Canadian group Cineplex.
Last week, broker JP Morgan wrote it could not envisage a 'realistic scenario' in which it would complete that deal.