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Vue International Eyes Debt Restructure In Wake Of Hollywood Strikes
Vue International, Europe’s largest independent movie theater operator, is in discussions with its shareholders and lenders on a fresh debt-for-equity restructuring. This comes after last yea…
Under Vue’s plans, first reported by Sky News, hundreds of millions of pounds of the group’s existing debt will be converted to equity, with roughly £50M ($63.3M) of new capital injected into the company. In a statement provided to Deadline, Vue founder and CEO Tim Richards said, “The unforeseen and unprecedented six months of strike action by Hollywood actors and writers in 2023 has had a short and medium-term impact on the industry, pushing back the release of a number of movies and delaying the production of new content. We are in discussions with our shareholders and lenders to ensure the business has the right capital structure to thrive and maximize exciting opportunities ahead once the pipeline of new content improves later this year and in 2025.”
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