Cineworld stock price tumbles on CVA rumours

Shares of Cineworld (LON: CINE) tumbled nearly 20% today on news that the firm is considering entering a “company voluntary arrangement” (CVA) in an effort to save its business until the spring.  Fundamental analysis: CVA considered to survive According to a report by Financial Times, Cineworld is mulling entering a CVA to reduce costs and secure new capital from its lenders. A CVA would likely help the company cut its property expenses as well.  The cinema chain was forced to close all 657 of its theatres across the UK and the US following the reintroduction of restrictions and postponements of