Beleaguered cinema group Vue International group eyes City float in boost for London By Leah Montebello Updated: 22:05, 4 July 2024 e-mail View comments The beleaguered cinema group Vue International is considering a flotation in London in a major boost for the sector. Chief executive Tim Richards said he was looking at ‘all opportunities’ for the British group, which could include an initial public offering (IPO). Vue has suffered as it faces a slow comeback from the pandemic, which has been worsened by the Hollywood actors and writers’ strike.
Europe’s largest independent cinema operator carried out a debt restructuring in January –its second in less than 18 months. Empty seats: Cinema group Vue has suffered in recent years as it faces a slow comeback from the pandemic - worsened by the Hollywood actor and writers’ strike But Richards said it was now in ‘very good shape’ and was focused on ‘rebuilding and laying down the foundations for the future’. On whether this would mean a listing in the UK in the next two years, he said: ‘We will look at all opportunities strategically – which would include a float.
’ But he added: ‘The business needs to wait to return to normal before it decides to make the next step.’ The company, which employs more than 8,000 people, anticipates the move could take place in 2025. The industry was thrown into crisis during the pandemic when it was forced to shut its doors and furlough thousands of people.
RELATED ARTICLE.
