Thu, 14 Feb 2019 | ADMINISTRATION
A chain of East England cinemas has been forced into administration after 30 years of business, citing poor trading conditions throughout the year as the reason for the company’s downfall.
Hollywood Cinemas, which ran its franchise through three venues in Dereham, Norwich and Great Yarmouth, has ceased its trading operations and called in insolvency practitioners Parker Andrews to handle the administration process. Its partner, Nick Cusack, has been assigned as the lead administrator.
A statement from Parker Andrews stated: “The administrator has commenced the process of selling the business and assets of the company […] A sale has been completed for the Dereham site and offers are invited on the remaining sites at Norwich and Great Yarmouth.”
Hollywood Cinema’s director, Trevor Wicks, noted a number of factors which contributed to the eventual administration of the cinema chain, including: “a very poor 2018 with the ‘Beast from the East’ in winter, the World Cup and the long, hot summer, plus high levels of competition in the local area and a number of poor-performing films in recent months.”
However, Wicks also said: “It is with a very heavy heart that I have had to place the company into administration. I would like to thank the millions of loyal customers that we have had over the last 30 years and, most importantly, the wonderful staff, both past and present.”
The Norwich branch was renowned for previously hosting the international premier of the 2013 film Alpha Papa, featuring Alan Partridge.
Potential buyers are invited to express their interest immediately, with the option of purchasing the Great Yarmouth or Norwich cinemas to operate under new ownership.
Click here to view the Hollywood Cinemas Limited listing for full details.
For more news stories about administrations click here. For all our administrations listings, click here.
This is a unique opportunity to acquire a hotel complete with multiple bars and restaurant in a popular Mid Wales spa town.
FREEHOLD
Opportunity to acquire a well-established inn with freehouse offering a prime location for continued hospitality success. At the eastern end of the Isle of Purbeck, Swanage is a well-loved tourist destination, renowned for its award-winning sandy bea...
LEASEHOLD
An established 30-bedroom hotel in Neath, Neath Port Talbot, presents a unique opportunity for investment in the hospitality sector.
FREEHOLD
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.