Boutique cinema chain ready to “bounce back” after pandemic losses
A national cinema chain is hopeful it is in a “strong position” to grow despite the disruption to its business caused by COVID-19.
Everyman Media Group has announced its audited final results for the 52 weeks ending December 31 2020.
The group saw an operating loss of £19.2m - a significant drop from £4.8m profit in 2019, which the group has attributed to the closure of its venues as a result of COVID-19.
Alex Scrimgeour, chief executive officer of Everyman, commented: “Whilst it has been an unprecedented and extremely challenging year, it is clear to me that the team has done an excellent job in navigating those challenges.
“They minimised all costs during periods of closure, strengthened the group’s balance sheet, worked with our landlords to achieve rent concession and not least, remained actively engaged with our people and customers throughout.
“During times in the year when our venues were able to open, the Group continued to enjoy the strong demand for the Everyman offering that it has seen for many years previously.
“Moving forward we remain confident that the nation’s love of film remains and that our premium offering sets us apart. We will be in a strong position to bounce back, with a great opportunity to return to expansion once more when it is safe to welcome back our customers and our staff in just over a month’s time.”
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