[SINGAPORE] Struggling cinema chain Cathay Cineplexes has ceased operations as of Monday (Sep 1), shortly after its voluntary liquidation was announced earlier in the day.
The cinema chain, which owes money to landlords of several of its outlets, will undergo voluntary liquidation, said its parent company mm2 Asia.
“Cathay Cineplexes had attempted to negotiate amicable resolutions with the various creditors, but (it) was unable to arrive at mutually agreeable restructuring outcomes of its payment obligations owed to these creditors,” said the media company, which operates the cinema chain.
In an Instagram post on Monday, the cinema chain said that it had “ceased operations with immediate effect”.
Its website displayed no movie…