Cathay Cineplexes is set to undergo creditors’ voluntary liquidation amid its financial woes, operator mm2 Asia announced on Monday (Sep 1). The board has resolved that it is no longer feasible for Cathay Cineplexes to continue operating, given its financial position and the absence of restructuring options, among other things, mm2 Asia said in a filing on the…
SINGAPORE – Entertainment company mm2 Asia on Sept 1 announced that Cathay Cineplexes will undergo voluntary liquidation. The struggling cinema chain, which owes money to the 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…
[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…
Cathay Cineplexes, a fixture in Singapore’s film scene since 1939, is preparing to close a significant chapter in its history. The cinema chain will be undergoing voluntary liquidation, operator mm2 Asia announced on Monday (Sep 1) in a filing on Singapore Exchange. “Cathay Cineplexes had attempted to negotiate amicable resolutions with the various creditors, but…
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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…
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SINGAPORE – Local eatery Superfood Kitchen will enter voluntary liquidation with operations at its last outlet, in Raffles City, ceasing on Aug 31. Superfood Kitchen faces mounting losses and was not able to agree on rental rates with the landlord, said its Singapore-listed parent, Autagco, in an Aug 31 bourse filing. The eatery is the…
What Is Liquidation? Liquidation in finance and economics is the process of bringing a business to an end and distributing its assets to claimants. It is an event that usually occurs when a company is insolvent, meaning it cannot pay its obligations when they are due. As company operations end, the remaining assets are used to…