CJ CGV have been hit hard by the coronavirus and will sell a twenty five stake in a Vietnamese real estate subsidiary to improve its financial structure.
Its total investment capital has fallen by almost twenty five percent year-on-year as of the end of the first quarter. Revenue halved in this period, and net losses rose to 118.6 billion KRW ($98.28 million), from 85.7 billion KRW ($71.03 million) the same period last year.
CJ CGV entered Vietnam in 2011 when it acquired local cinema chain Megastar Media Company, which had seven multiplexes sporting a total of 54 screens.
