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» Cinematour Forum   » Cinemas and Theatres   » Closings

   
Author Topic: Closings
Mike Rivest
Member

Posts: 96
From: Montreal,QC
Registered: Aug 2003


 - posted January 18, 2005 06:24 PM      Profile for Mike Rivest   Author's Homepage   Email Mike Rivest         Edit/Delete Post 
The IMAX theatre in Quebec City closed after losing money

Article in French as fallows (link to Radio-Canada site with video below.)

C'est au plus tard lundi prochain qu'on connaîtra le sort réservé au Cinéma IMAX des Galeries de la Capitale, depuis novembre sous la protection de la loi sur les faillites. L'entreprise a fermé ses guichets dimanche soir après avoir accumulé une dette de 2,5 millions $.

À première vue, ce n'est pas une happy end qui s'annonce pour la quarantaine d'employés du théâtre. Seulement, des revirements de situations sont toujours possibles. « Nous ne sommes pas encore en faillite. On parle pour l'instant d'une fermeture temporaire. L'entreprise est sous la protection de la Loi sur les faillites jusqu'à dimanche minuit. D'ici là, s'il n'y a pas d'offre faite aux créanciers, l'arrivée de nouveaux investisseurs ou encore une vente annoncée, c'est là que ça se termine. C'est fini. » Voilà les scénarios qui s'offrent à l'entreprise, explique Jack Roy, directeur général d'IMAX.

Les investisseurs, une dizaine, tous de Québec, ont démarré l'affaire en 1995. À l'époque, le cinéma enregistrait quelque 600 000 entrées annuellement. Suffisamment pour être rentable. Il n'a fallu que quatre années d'exploitation pour voir les problèmes surgir. « On a commencé à sentir les premiers soubresauts en 1999. Les gens croyaient que ça allait se tasser », rapporte M. Roy.

http://radio-canada.ca/regions/Quebec/nouvelles/200501/17/007-imax.shtml

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Roger Katz
Member

Posts: 339
From: Thomaston, CT
Registered: Feb 2003


 - posted January 19, 2005 03:43 AM      Profile for Roger Katz   Email Roger Katz         Edit/Delete Post 
Someone want to paste that into Babelfish?

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Jeff Arellano
Senior Member

Posts: 685
From: Monterey Park, CA
Registered: Jun 2003


 - posted January 19, 2005 03:33 PM      Profile for Jeff Arellano   Email Jeff Arellano         Edit/Delete Post 
Sure Roger. Even though part of it doesnt make sense:

It is at the latest next Monday which one will know the fate reserved
for Cinema IMAX of the Galleries of the Capital, since November under the protection of the law on the bankruptcies. The company closed its counters Sunday evening after having
accumulated a debt of 2,5 million $.
At first sight, it is not a happy end which is announced for forty employees of the
theatre. Only, reversals of situations are always possible. "We are not yet in bankruptcy. One speaks for the moment about a temporary closing. The company is under the protection of the Law on the bankruptcies
until Sunday midnight. By then, if there is no quoted to the creditors, the arrival of new investors or an announced sale, it is there that that finishes. It is finished. "Here are the scenarios which are offered to the company, explain Jack Roy, general manager of IMAX.
Investors, ten, all of Quebec, started the business in 1995. At the time, the cinema recorded some 600 000 entries annually. Sufficient to be profitable. It took only four years of exploitation to see the problems emerging. "One started to feel the first sudden starts in 1999. People believed that that was going to be packed ", bring back M. Roy.

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