Cineworld bosses defer pay packets after cinemas are forced to close

The company said it was also suspending payment of its proposed dividend for the fourth quarter, as it looks to mitigate the impact of the coronavirus outbreak.

It said the Government-mandated closure of cinemas has been “extremely challenging”.

In a statement, Cineworld said: “Every effort is being made to mitigate the effect of the closures, to assist our employees and to preserve cash.

“These efforts include discussions with our landlords, the film studios and major suppliers, as well as curtailing all currently unnecessary capital expenditure.

“This is a painful but necessary process as before the onslaught of the Covid-19 virus, we were excited and confident about the group’s future prospects.”