Eurodisney to hold special meeting on cash crunch

GMT 21:03 2014 Friday ,03 October

Arab Today, arab today Eurodisney to hold special meeting on cash crunch

Disney character Mickey poses in front of the Sleeping Beauty Castle
Meaux - AFP

Disneyland Paris, which attracted one million fewer 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 at 0500 GMT 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 euros ($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 euros, that was only achieved through a 1.3 billion-euro refinancing from its US parent firm Walt Disney Company.

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