17th Mar 2020 12:37
(Alliance News) -Â Everyman Media Group PLC on Tuesday said it has decided to shutter all its venues until further notice due to Covid-19.
Trading over recent days has been hit by the Covid-19 outbreak as well as the delay of major film releases.
"Following guidance provided by the UK government yesterday, the board of Everyman has taken the decision to close its venues to guests until further notice. The health of our staff and our customers is the boards highest priority," said Everyman.
UK Prime Minister Boris Johnson on Monday said all people in the UK should avoid pubs, clubs and theatres, stop all non-essential contact and travel, and work from home if they can
Cinema operator Everyman said it has "significant headroom" in its loan facility and is in talks with its lenders on covenants to maintain liquidity through this "period of uncertainty".
"Whilst site closures will clearly have an impact on the group's ability to operate whilst restrictions are in place, this does not change the board's confidence in Everyman and its proposition over the long term," Everyman said.
The company also said Non-Executive Director Streisan Bevan will be stepping down from the board, effective April 18.
Shares in Everyman were down 12% at 71.40 pence in London on Tuesday at midday, hitting a low of 67.00p.
By Lucy Heming;Â [email protected]
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