Vue In Advanced Talks To Secure $130M Debt Financing Amid Coronavirus Challenge
Cinema chain Vue is close to securing roughly £100M ($130M) in debt financing to help counteract the challenges wrought by coronavirus.
Sources confirm to us that there are advanced talks to secure the funding, a move first reported by Sky. The company refinanced its debt last year, with none of its borrowings repayable until 2025.
More from Deadline
UK Cinemas Begin Selling Tickets For 'Tenet'; Vue To Reopen All Sites In Time For Nolan Pic
Euro Cinema Giant Vue Weighs In On AMC-Universal Window Crunch: "Why Roll The Dice?"
Vue Sets New UK Re-Opening Dates From August 7 Following 'Tenet' Shift
Canadian firm Vue is the UK’s third largest chain and has sites in Europe and Asia. Vue and other networks have been re-opening venues in recent weeks as the sector looks to breathe life back into a business which has been pummeled by the lockdown.
Hopes are high among exhibitors that Warner Bros’ Tenet, which rolls out internationally this month, can be the catalyst for an upturn in box office and for it to pave the way for other blockbusters.
The UK today announced that indoor theater and music performances with socially distanced audiences will be permitted from tomorrow. However, many theaters do not see this as a financially viable option and aren’t expected to re-open for some months at least.
Best of Deadline
Coronavirus: Movies That Have Halted Or Delayed Production Amid Outbreak
Hong Kong Filmart Postponed Due To Coronavirus Fears; Event Moves Two Weeks Before Toronto
Sign up for Deadline's Newsletter. For the latest news, follow us on Facebook, Twitter, and Instagram.