Canada's Cineplex to Shutter Theaters Until April 2 Amid Coronavirus Pandemic
Reading now: 689
hollywoodreporter.comCanadian exhibition giant Cineplex will be shutting down all of its locations until April 2 amid the coronavirus pandemic. The circuit operates 165 cinemas with 1,695 screens nationwide and is closing them "in an abundance of caution" over the spread of COVID-19 and following Canadian government directives, the company said Monday.
And in a letter to investors, Cineplex also warned the debt conditions of its $2.1 billion, $34-per-share takeover deal with Cineworld Group could threaten that transaction being completed.
The Dec. 16, 2019 agreement between Cineplex and Cineworld required the Canadian chain to have no more than $725 million in outstanding debt.
Read more on hollywoodreporter.com
The website starsalert.com is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.