“GOING to the cinema has become too expensive, especially when you have kids. It’s sad, but it’s what our economy is doing to us.”
This was a comment left by social media user Corrine Morris, who responded to a Cape Argus poll following the news that Ster-Kinekor planned to issue retrenchment notices to 236 employees as it restructured its business and streamlined costs due to dwindling attendance numbers at its South African cinemas, coupled with other challenges.
The Section 189 process comes a few months after the company, managed by UK-based Blantyre Capital and Greenpoint Capital, exited business rescue.
Staff in the chief executive office, marketing, sales, human capital, information technology, business operations, content, finance, head office, regional operations and cinemas, were all affected.
Upon hearing the news, the…
