Sker-Kinekor has been Placed under Business Rescue

The movie house Star-Kinekor has been put under voluntary business rescue. 
According to the statement that was released by the company on Friday state that, the business rescue was aimed at facilitating the rehabilitation of the company.

The company said before the pandemic, the movie outlet was doing well in all fronts. But due to various factors brought on by the COVID-19, Ster-Kinekor has been trading at a loss, as the company continues to incur costs.

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“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.

“Since then, the company has been operating under various forms of restriction, including curfews and mandatory limits to the number of guests per auditorium,” the statement read.

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