Ster-Kinekor to retrench more than 200 employees

Just two years after exiting business rescue, Ster-Kinekor plans to lay off 236 employees, approximately 32% of its workforce, and shut down up to nine cinemas in Gauteng, KwaZulu-Natal, and the Western Cape.

18 Apr 2024

Source:

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.

Local is lekker at the cinema with new film releases

Local is lekker at the cinema with new film releases

6 Mar 2024

Top stories

Canal+ signs new multi-year deal with Warner Bros. Discovery to keep 12 TV channels on DStv (Image source: © 123rf )

Marketing & MediaCanal+'s last minute deal rescues Warner Bros. Discovery channels

21 hours

25 rural women farmers break into SA’s retail, school supply chains

Agriculture25 rural women farmers break into SA’s retail, school supply chains

17 hours

Sapics call for speakers for 2026 conference closes soon

Logistics & TransportSapics call for speakers for 2026 conference closes soon

19 hours

How gender-inclusion in higher education can transform Africa’s future

EducationHow gender-inclusion in higher education can transform Africa’s future

Meekness Lunga-Ayidu 20 hours

Nigeria's President Bola Tinubu speaks in Brasilia, Brazil, August 25, 2025. REUTERS/Adriano Machado/File Photo.

LegalNigeria to implement new tax laws from January 1 despite calls for delay, Tinubu says

Camillus Eboh 2 days

More news

Let's do Biz