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 such as floods and fires in recent years.
The actors and writers strikes in Hollywood impacted how many movies could be shown, leading to a loss of revenue, CEO Kieren Dell told news.com.au.
A message on its website informed patrons it was undergoing a restructuring process.
Majestic Cinemas advises that it is looking to restructure its business by appointing Voluntary Admini…
