Ster-Kinekor to retrench more than 200 employees

Source: www.unsplash.com

This comes after challenges such as a tough economic climate, load-shedding, financial constraints, and delays in movie releases due to Hollywood strikes which led to decreased cinema attendance and revenue.

The nine cinema locations earmarked for closure:

• Bayside (WC)
• Boardwalk (KZN)
• Mimosa (KZN)
• Shelly Beach (KZN)
• Cedar Square (GP)
• Maponya (GP)
• Matlosana (GP)
• Southgate (GP)
• Sterland (GP)

This news comes during a climate where streaming services such as Netflix, Disney and Amazon Prime have become more popular for blockbusters, ultimately affecting cinema numbers.

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