The recently released James Bond blockbuster No time to die has provided Ster Kinekor with attendance levels almost double that forecasted within the context of the Covid-19 pandemic, the entertainment company's rescue practitioner Stefan Smyth said in a statement on Friday.
The movie was released to theatres and not into the streaming space.
Hopes are also pinned on other releases, including Marvel's Venom: Let There be Carnage; Dune; The Eternals (5 November) and Spider-Man: No way Home (17 December).
Due diligence on a "front runner" deal could be completed within the next two weeks and, at the same time, other potential interested parties are being assessed with the aim of enabling the company to get out of business rescue.
Smyth hopes to publish a rescue plan as soon as possible. He was granted permission to extend the deadline for the publication of a rescue plan to 30 November this year in order to provide more time for due diligence processes.
The recovery rate of cinema attendance levels is expected to continue, though it might be tripped up slightly by a potential fourth wave of Covid-19 infections. The increasing rate of vaccinations is, however, expected to make a positive impact.
