End of a cinema icon: Cathay Cineplexes to undergo voluntary liquidation

Cathay Cineplexes, a fixture in Singapore's film scene since 1939, is preparing to close a significant chapter in its history.

The cinema chain will be undergoing voluntary liquidation, operator mm2 Asia announced on Monday (Sep 1) in a filing on Singapore Exchange.

"Cathay Cineplexes had attempted to negotiate amicable resolutions with the various creditors, but (it) was unable to arrive at mutually agreeable restructuring outcomes of its payment obligations owed to these creditors," the entertainment company said. 

Going forward, the board of Cathay Cineplexes will voluntarily liquidate their cinema chain to repay creditors, mm2 Asia explained, adding that the board determined operation to be "no longer feasible".

The cinema chain faced multiple payment demands from landlords of its outlets over arrears and other monies owed over recent months, according to The Business Times.

$122.4m net loss

Last week, financial results of Cathay Cineplexes saw a net loss of $122.4 million in the 2025 fiscal year, up from $1.9 million in 2024, CNA reported last Friday (Aug 29).

In July, mm2 Asia had shared that they were considering winding up Cathay Cineplexes - one of Singapore's oldest cinema chains - to address the financial challenges.

At the time, other options included continuing negotiations with landlords with the aim of restructuring existing obligations consensually, or trying to restructure existing obligations under a court-supervised process while continuing operations.

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khooyihang@asiaone.com