Ritzy owner to spend £2.7 billion, but will not pay living wage

Cinema operator Cineworld, the ultimate owner of Brixton’s Ritzy, while refusing to pay staff there the London Living Wage, is planning to spend £2.7 billion on the US Regal chain of cinemas.

Cineworld said Regal – the second largest USA chain – would give it a platform in the world’s largest cinema market.

It said a mix of debt and a new share issue would fund the purchase. Its largest shareholder, Global City Holdings, a Polish company which owns 28 per cent of Cineworld, will contribute.