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-   -   is it true disneyland paris filing for bankruptcy monday? (https://www.thedibb.co.uk/forums/showthread.php?t=833942)

floridafamily 5 Oct 14 09:47 AM

is it true disneyland paris filing for bankruptcy monday?
 
Have just seen something on facebook saying disneyland paris filling for bankruptcy on monday. Is there any truth in this. I feel physically sick after reading it.

we go mid nov with my four year old niece who is so excited. She and us will be devastated if we cant go.

please can someone put our minds at rest.

thanks

Evilbert 5 Oct 14 10:01 AM

I would think if it were true it would be all over the news. I can't find mention of it anywhere.

Nubbedy 5 Oct 14 10:10 AM

Tere is an extraordinary meeting being held on Monday at 7:00 am whch doesn't look good news, but I would not think it would be regarding closing the park; surely if this were the case we would have heard about it before now.

cazspence 5 Oct 14 10:26 AM

If the rumours are to be believed it's either that they Re cutting staff that's why the workers unions will be there. Or that the wdc will be buying edc out. No bankrupcy. I wouldn't worry about it at all.

RickT 5 Oct 14 10:42 AM

2 years ago they were close to 2 billion euros in debt.

Take a read of this thread - http://www.tripadvisor.co.uk/ShowTop..._de_Franc.html

blusteryday 5 Oct 14 10:51 AM

From thelocal.fr:

Eurodisney to hold cash crunch crisis talks

AFP | 4 Oct 2014, 07:09

Disneyland Paris, which attracted one million less visitors last year, will hold a special meeting with the workers' council on Monday to discuss its ailing finances, informed sources said.


The meeting will begin before the Paris stock exchange opens, three sources confirmed separately to AFP on Friday.

The meeting will focus on the company's cash flow after the arrival of Eurodisney's new boss Tom Wolber in September.

The company, when contacted by AFP, refused comment but the sources said they had received formal communication regarding the meeting.

The theme park's revenues have slumped due to a huge drop in visitors.

Its net losses in the first six months this year increased by 16 percent to 103.6 million ($129 million) compared with the previous year.

The number of visitors between January and June also fell by 400,000 -- a six percent drop.

Although the group managed to cut its net loss for last year by 25 percent to 64.4 million, that was only achieved through a 1.3 billion refinancing from its US parent firm Walt Disney Company.

Peter H 5 Oct 14 11:56 AM

Can't see it being bankruptcy I have heard nothing as a shareholder. If that were to happen the shareholders would have to know.
They have invested in Newport Bay. They have announced investment in New York hotel, also hinted at what they are planning for the 25th anniversary. I think it could be re financing. If it were a take over again as a shareholder I would have to hear before a general announcement.

floridafamily 5 Oct 14 12:56 PM

Thanks for your replies. Put our minds at rest for now.

kempydee 5 Oct 14 12:58 PM

Does that mean the shares will take a nose dive in price? Is that why they are having the meeting before the French stock exchange opens?
I "read" that to mean that it will be a financial announcement and they know it will affect the share price.

geoffa 5 Oct 14 01:04 PM

Sounds to me that they are renegotiating share situations. Whether that means redundancies or what - we won't find out until the meeting has been held. Obviously their marketing isn't working - maybe time to call in the cavalry? As Peter H points out if there was the slightest chance of bankruptcy shareholders would be the first to know.


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