Australian cinema operator Majestic Cinemas has gone into voluntary administration in an attempt to stay afloat in the post-pandemic environment.
The chain has nine locations across regional New South Wales and Queensland, including the Ritz in Port Macquarie and other theatres in Nambour, Inverell, Nambucca, Rose Point, Wynnum, Kempsey, Singleton, and Nelson Bay.
The business appointed Terry Grant van der Velde and Terrence Rose of SV Partners as administrators on Wednesday, but CEO Kieren Dell is optimistic the chain will survive.
“We’re feeling pretty good,” he told NBN News.
“This process of administration is about restructuring the bus…
Read the full article at: https://www.9news.com.au/national/majestic-cinemas-voluntary-administration/2b36d4bb-34e3-4d43-8a87-ee0278444152