Eurodisney to hold cash crunch crisis talks

Eurodisney to hold cash crunch crisis talks
Photo: AFP
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.

Member comments

Become a Member to leave a comment.Or login here.