The Canadian exhibitor has reached a fourth agreement with key lenders for relief on its financial covenants to the second quarter of 2022.
Only Saskatchewan has no capacity restrictions impacting movie theater chains. Cineplex has another 141 theaters operating in the rest of Canada. In Ontario, Cineplex has had to cut by 50 percent seating in its multiplexes, except for locations in regional markets like Kingston, Sault Ste Marie, Ottawa, Belleville and Sudbury where additional public health directives are in place locally.
Cineplex, which received earlier relief from its lenders after its box office revenues collapsed amid pandemic-era shutdowns before its Canadian circuit reopened, said it has once again amended its credit agreement with lenders as the financial impact of the latest COVID-19 public health restrictions impacts its operations.
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