Majestic Cinemas enters voluntary administration, CEO vows to protect 80-year-old Art Deco Sawtell theatre – ABC News

Liquidation

In short: Majestic Cinemas chief executive Kieran Dell says the company has faced mounting challenges from natural disasters. He says a post-COVID hangover and the writers’ strike have also hurt the business. What’s next? Mr Dell has vowed to keep an 80-year-old historic cinema in Sawtell open. A regional theatre chain has entered voluntary administration this week, blaming a slump in film…

Major Australian cinema chain collapses into administration – Sky News Australia

Liquidation

The long list of Australian businesses to collapse in the past few months has claimed another big scalp after Majestic Cinemas entered into administration. The business announced it had gone into voluntary administration on January 31 following a turbulent period. It has been affected by the COVID-19 pandemic, cost-of-living pressures as well as natural disasters…

Cinema chain collapses after horror year – news.com.au

Liquidation

A major cinema chain in regional Australia has collapsed into voluntary administration after a horror 12 months where not even blockbuster movies Barbie and Oppenheimer could save it. Majestic Cinemas operates nine cinemas in regional NSW and Queensland. Locations include Nambour, Port Macquarie, Inverell, Nambucca, Wynnum, Kempsey, Singleton, Sawtell and Nelson Bay. The business collapsed…

Majestic Cinemas chain in Queensland and NSW enters voluntary administration – 7NEWS

Liquidation

Majestic Cinemas, a major regional chain with nine cinemas across Queensland and New South Wales, has entered voluntary administration. Although major blockbuster films such as Barbie and Oppenheimer reinvigorated the broader industry last year, SV Partners administrators Terry Grant van der Velde and Terrence John Rose were appointed on January 31. The independent cinema chain…

Majestic Cinemas, regional theatre chain, enters administration – SmartCompany

Liquidation

RITZ Cinemas Port Macquarie, one of ten theatre complexes affected by the voluntary administration of Majestic Cinemas. Source: Google Images Majestic Cinemas, a movie theatre business operating screens across regional New South Wales and Queensland, has collapsed into voluntary administration after a punishing 18 months for independent cinema chains. The business operates theatres in Nambour,…

Restructuring Plan for Companies in Financial Difficulty Under the Corporate Insolvency and Governance Act 2020 … – Mayer Brown

Liquidation

The Corporate Insolvency and Governance Act 2020 (CIGA) ushered in a flexible restructuring compromise or arrangement for companies in financial difficulty (the Restructuring Plan). The legislation governing the Restructuring Plan sits alongside that for schemes of arrangement and is included in a new Part 26A to the Companies Act 2006. The Restructuring Plan does not…

Regional cinema chain Majestic goes into voluntary administration – 9News

Liquidation

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…