Ster-Kinekor to cut 236 jobs, close THESE nine cinemas in South AfricaSter-Kinekor has announced plans to lay off almost a third of its 728 employees and close nine of its cinemas.
by Garrin Lambley
17-04-2024 11:30
in Business & Finance
Ster-kinekor to cut 236 jobs, close nine cinemas. Image via Facebook/Liberty Promenade Shopping Centre
Ster-Kinekor has announced plans to lay off nearly a third of its 728 employees less than two years after the company exited business rescue.
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In addition, it plans to close as many as nine of its cinemas, predominantly in Gauteng, as well as KwaZulu-Natal, the Western Cape and Free State.
According to MyBroadband, Ster-Kinekor served staff with a section 189(3) notice on 13 February 2024, beginning the retrenchment process of 236 of its employees.
The affected positions are across the board and include the CEO's office, marketing, sales, human capital, information technology, business operations, content, finance, head office, regional operations and cinemas.
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The nine cinemas earmarked for closure are:
Bayside (Western Cape)
Boardwalk (KwaZulu-Natal)
Shelly Beach (KwaZulu-Natal)
Mimosa (Free State)
Cedar Square (Gauteng)
Maponya (Gauteng)
Matlosana (Gauteng)
Southgate (Gauteng)
Sterland (Gauteng)
These closures will take place over the course of the next six months.
Furthermore, Ster-Kinekor is also reviewing plans to close another eight cinemas around the country, namely Secunda, Wonderpark, Bedfordview, Cradlestone, Mooi River, N1 City, Rosebank Nouveau and Rustenburg.
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Ster-Kinekor was forced to enter business rescue in January 2021 following the impact of the Covid-19 pandemic and associated lockdowns.
It exited from business rescue in November 2022, following an acquisition that secured a cash infusion of R250 million from UK-based Blantyre Capital and South Africa's Greenpoint Capital.
When last did you watch a movie at Ster-Kinekor? Let us know by clicking on the comment tab below this article or by emailing info@thesouthafrican.com or sending a WhatsApp to 060 011 021 1
You can also follow @TheSAnews on X and The South African on Facebook for the latest news.
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Ster-Kinekor to cut 236 jobs, close THESE nine cinemas in South AfricaSter-Kinekor has announced plans to lay off almost a third of its 728 employees and close nine of its cinemas.
