‘Save Our Cinema’: Nambour urged to support Majestic as tough times hit
Majestic Cinemas chief executive officer Kiren Dell said business had been down by 30 percent across the industry during the past 18 months. by Janine Hill HINTERLAND residents have been urged to rally behind Nambour’s Majestic cinema as its parent company faces an uncertain future. Majestic Cinemas, which operates nine regional cinemas on the east coast, including one at Nambour, has gone into voluntary administration. The cinemas are still trading under administration while the company undergoes a restructure with a view to continuing operations into the future. A statement to its moviegoers cited natural disasters, the pandemic, Hollywood strikes and a lack of consistent major movie releases as contributing to difficulties over the past four years. Majestic Cinemas chief executive officer Kiren Dell said business had been down by 30 percent across the industry during the past 18 months. Mr Dell said Majestic leased eight of its nine cinemas, meaning it had fixed expenses to cover with reduced revenue and this had resulted in accumulated debt. He said attempts would be made to renegotiate leases while under administration to put it into a better position to continue trading. “Administration doesn’t mean we are closing and it doesn’t mean we are […]
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