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Case
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Reference no. 201-035-1
Originally published in: 2001
Version: October 2001
Length: 14 pages
Data source: Published sources

Abstract

Loews Cineplex Entertainment, created from one theater in 1904, had grown and expanded to become one of the world''s largest theater exhibition companies with almost 3,000 screens in 365 locations by the end of the millennium. But despite the company''s size, market share, and higher than expected attendance the company continued to struggle financially. Even with revenue growth to $209.3 million for the quarter ended November 30, 2000 from 192.1 million in the prior year period, the company reported a net loss of $185.9 million (including theatre dispositions) compared to a net loss of $23.8 million in the prior year. For the nine months ending 30 November 2000 the company reported a loss of $272.9 million versus $29.9 million for the prior year. Amidst a mounting debt of over $1 billion, action to restructure the company quickly is imperative to Loews'' future existence. If action isn''t taken soon, bankruptcy may be its only option.
Location:
Industry:
Size:
Large

About

Abstract

Loews Cineplex Entertainment, created from one theater in 1904, had grown and expanded to become one of the world''s largest theater exhibition companies with almost 3,000 screens in 365 locations by the end of the millennium. But despite the company''s size, market share, and higher than expected attendance the company continued to struggle financially. Even with revenue growth to $209.3 million for the quarter ended November 30, 2000 from 192.1 million in the prior year period, the company reported a net loss of $185.9 million (including theatre dispositions) compared to a net loss of $23.8 million in the prior year. For the nine months ending 30 November 2000 the company reported a loss of $272.9 million versus $29.9 million for the prior year. Amidst a mounting debt of over $1 billion, action to restructure the company quickly is imperative to Loews'' future existence. If action isn''t taken soon, bankruptcy may be its only option.

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Location:
Industry:
Size:
Large

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