They have been fighting to keep their doors open since the start of the lockdown.
Ster-Kinekor recently announced that they have entered voluntary business rescue as a result of a severe loss of revenue after the first lockdown was announced in 2020. Business rescue is a process that is aimed at reviving business operations. Ster-Kinekor has said that besides the tough regulations in place, like curfews and the number of people allowed in a cinema, they are also battling to present new movies to patrons. The film industry has delayed the release of several blockbusters which might have led to a spike in moviegoers. As part of the business rescue process, Ster-Kinekor will come up with a strategy to pivot their business to hopefully rehabilitate their income stream.
