Posts Tagged ‘Cineplexes’
mm2 Asia says voluntary liquidation of Cathay Cineplexes unlikely to affect operations
[SINGAPORE] Entertainment company mm2 Asia on Wednesday (Sep 3) said the voluntary liquidation of Cathay Cineplexes is not expected to adversely impact its core businesses or continuing operations. Instead, liquidating the struggling cinema chain may improve the group’s overall cash flow and profitability, given that Cathay has been cash-flow negative and loss-making since the pandemic,…
Read MoreCathay Cineplexes to undergo voluntary liquidation
It is not feasible for the cinema chain to continue operating as a going concern, parent mm2 Asia says [SINGAPORE] Entertainment company mm2 Asia on Monday (Sep 1) announced that Cathay Cineplexes will undergo voluntary liquidation. This comes as the struggling cinema chain is unable to continue operating as a going concern. Cathay Cineplexes faced…
Read Moremm2 Asia to wind up Cathay Cineplexes as talks with creditors fall through
[SINGAPORE] Entertainment company mm2 Asia on Monday (Sep 1) announced that Cathay Cineplexes will undergo voluntary liquidation. The struggling cinema chain, which owes money to landlords of several of its outlets, is unable to continue operating as a going concern, its parent company said. “Cathay Cineplexes had attempted to negotiate amicable resolutions with the various…
Read MoreCathay Cineplexes ceases operations as talks with creditors fall through
[SINGAPORE] Struggling cinema chain Cathay Cineplexes has ceased operations as of Monday (Sep 1), shortly after its voluntary liquidation was announced earlier in the day. The cinema chain, which owes money to landlords of several of its outlets, will undergo voluntary liquidation, said its parent company mm2 Asia. “Cathay Cineplexes had attempted to negotiate amicable…
Read Moremm2 Asia evaluating all available options, including winding up Cathay Cineplexes
[SINGAPORE] Cathay Cineplexes parent company mm2 Asia said on Thursday (Jul 17) that it is evaluating all available options to address its financial challenges, including winding up the cinema chain. The other options included continued negotiations with Cathay’s landlords, with the aim of restructuring existing obligations consensually, and restructuring the cinema’s existing obligations under a…
Read MoreCathay Cineplexes gets fresh payment demands of over S$3.3 million for Century Square, Causeway Point outlets
[SINGAPORE] Embattled cinema chain Cathay Cineplexes has received more repayment demands of over S$3.3 million in rent arrears and other amounts, owed to the landlords of its outlets at Century Square and Causeway Point. This includes two statutory demands received on Tuesday (Jul 15), for the payment of S$86,142.31 and S$643,064.36, respectively, owed for the…
Read MoreCathay Cineplexes gets fresh demands to pay up rent for Century Square, Causeway Point outlets
[SINGAPORE] Embattled cinema chain Cathay Cineplexes has received more repayment demands – this time, a sum exceeding S$3.3 million in rental arrears and for other items, owed to the landlords of its outlets at Century Square and Causeway Point. These include two statutory demands received on Tuesday (Jul 15), for the payment of S$86,142.31 and…
Read MoreCathay Cineplexes gets fresh demands to pay up S$3.3 million debt for Century Square, Causeway Point outlets
[SINGAPORE] Embattled cinema chain Cathay Cineplexes has received more repayment demands – this time, a sum exceeding S$3.3 million in rental arrears and for other items, owed to the landlords of its outlets at Century Square and Causeway Point. These include two statutory demands received on Tuesday (Jul 15), for the payment of S$86,142.31 and…
Read MoreCathay Cineplexes operator mm2 Asia to raise funds for debt repayment via proposed share placement
The announcement comes after the cinema chain received a S$3.4 million payment demand from the landlord of its shuttered Jem outlet [SINGAPORE] Media company mm2 Asia, which operates the Cathay Cineplexes cinema chain, has proposed the placement of 1,875 million shares at a minimum of S$0.008 per share, to raise funds for debt repayment and…
Read MoreCathay Cineplexes gets S$3.4 million payment demand from landlord of shuttered Jem outlet
[SINGAPORE] Embattled cinema chain Cathay Cineplexes on Tuesday (Jul 1) received a statutory demand from lawyers representing the landlord of its shuttered outlet at Jem shopping mall, asking that it pay up arrears of around S$3.4 million before the end of the month. Cathay Cineplexes must pay up the monies to Lendlease Global Commercial Real…
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