[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 creditors, but (it) was unable to arrive at mutually agreeable restructuring outcomes of its payment obligations owed to these creditors,” mm2 Asia said.

The board of Cathay Cineplexes will proceed with a creditors’ voluntary liquidation of the cinema chain, after determining that it is “no longer feasible” to continue operating as a going concern, the…

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 (it) was unable to arrive at mutually agreeable restructuring outcomes of its payment obligations owed to these creditors,” the entertainment company said. 

Going forward, the board of Cathay Cineplexes will voluntarily liquidate their cinema chain to repay creditors, mm2 Asia explained, adding that the board determined operation to be “no longer feasible”.

The cinema chain faced…

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ISLAMABAD: The government on Sunday said it had retired about Rs1.133tr debt to the State Bank of Pakistan (SBP), taking advantage of the central bank’s record profits driven by the highest interest rates in the country’s history.

“On August 29, 2025, the Debt Management Office (of the Ministry of Finance) executed another monumental repayment of Rs1.133 trillion,” the Ministry of Finance (MoF) said in a statement, adding that this came on…

The soaring cost of living and financial pressures on families have forced six in 10 parents into debt to provide for their children.

That’s according to a survey of 2,000 parents of children aged 0–18, which examined the economic challenges and mounting debt families across America are facing.

Sixty-three percent of parents in debt admitted their financial situation is preventing them from providing for their children the way they’d like, significantly more than the 48% of parents without debt who feel the same way.

For parents in debt (77% of those surveyed), half (48%) said their debt is becoming “unmanageable.”

IN CASE YOU MISSED IT | Fueled by mortgages, household debt rises to record $18.39 trillion

According to the survey…

The cumulative number of insolvency cases initiated by operational creditors such as raw material suppliers and vendors against defaulters trailed that by financial creditors for the first time since fiscal 2017, show latest data.

According to officials, this suggests a growing preference among operational creditors in recent years for out-of-court settlements.

Between late 2016, when the Insolvency and Bankruptcy Code (IBC) came into effect, and June 2025, operational creditors initiated 3,963 cases, against 4,002 by their financial counterparts, mainly banks, according to data from the Insolvency and Bankruptcy Board of India (IBBI). Another 522 companies voluntarily filed for bankruptcy.

In the June quarter, operational creditors…

YOUNG ADULTS in Redditch are facing significant financial struggles with many battling debt and seeking help with budgeting, according to new figures released by debt help and budgeting charity, Christians Against Poverty (CAP).

CAP Redditch Debt Centre said 30 per cent of 18 to 34-year-olds were struggling to repay debt, compared to 23 per cent of those aged 35 to 54 and just seven per cent of over-55s.

In Redditch, 6.4 per cent of young people between the ages of 18 and 25 are not in employment, education or training. This is compared to 5.4 per cent for the whole of England.

Oasis Christian Centre is working with CAP to help young people in Redditch who are struggling financially.

Emma Marshall, CAP Redditch Debt Centre Manager,…

Mumbai: The National Company Law Tribunal (NCLT) has admitted Canara Bank‘s insolvency plea against Supreme Best Value Kolhapur (Shiroli) Sangli Tollways Pvt Ltd, a special purpose vehicle promoted by BSE-listed Supreme Infrastructure India Ltd, over a default of ₹347 crore. The tribunal also appointed Rajesh Jhunjhunwala as the interim resolution professional (IRP) to oversee the process.

Supreme Best Value Kolhapur (Shiroli) Sangli Tollways (SBVKSST), set up in 2011 for a four-laning project on the Shiroli-Sangli stretch in Maharashtra, had availed term loans from a consortium of lenders, initially led by L&T Finance and later joined by Union Bank of India, Central Bank of India and Canara Bank.

Appearing for Canara Bank, Yash Dhruva,…

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 latest in a series of retail operators to shut down in the face of tough business conditions.

“Since its launch in 2022, Superfood Kitchen has been incurring accumulated losses amid rising operating costs and challenging business environment, with limited turnaround prospects,” said Autagco.

Superfood Kitchen had engaged its Raffles City landlord on renewal terms, but could not agree on rental…