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Vue in final talks to secure £100m debt package to face coronavirus crisis
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nme.comcoronavirus on its business.The cinema chain, which operates 90 cinemas in the UK and employs approximately 9,000 staff across Europe, is on course to secure the funding days after reopening some of its UK multiplexes.Sky News reports that the new funding package is being lined up in addition to Vue’s existing borrowing facilities.
It comes as cinemas gear up to show several big-budget films delayed by the COVID-19 pandemic, including Christopher Nolan’s delayed Tenet.Tim Richards, Vue’s chief executive, told the publication: “Vue went into lockdown as one of the strongest companies in its sector and is playing a leading role in the industry’s renaissance now that customers are returning to big screen entertainment.“To maintain the.
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