Cathay Cineplex at JEM closes on 27 March
Cathay Cineplex at JEM has officially shut its doors as of Thursday (27 Mar), its operator, mm2 Asia, announced.
This marks the sixth Cathay Cineplex closure in less than three years, following the shutdown of its branches at Orchard Cineleisure, Parkway Parade, The Cathay Building, Ang Mo Kio Hub, and West Mall.
With JEM’s closure, only four outlets remain — Causeway Point, Downtown East, Century Square, and Clementi 321.
The JEM location has also been removed from Cathay Cineplexes’ website.
Source: Google Maps
Cinema industry struggles behind closure
In a statement, mm2 Asia cited ongoing challenges in the cinema industry since the onset of Covid-19 as the main reason for JEM’s closure.
“This is a result of ongoing negotiations with the landlord for more than a year,” they revealed.
Over the past few years, the company has faced mounting debt due to rental arrears. In a desperate bid to stay afloat, they even rolled out a promotional package in February this year to “save [their] screens.”
Cathay Cineplexes expressed their commitment to “realigning and rightsizing [their] cinema business in anticipation of market and audience shifts post-Covid”.
“The painful process is inevitable but will allow the cinema to explore new opportunities based on current market demands and ensure long-term sustainability,” they added.
The company also extended its gratitude to property developer Lendlease for its support over the years, acknowledging the “significant challenges and unprecedented difficulties” they have faced.
Also read: 2 S’pore malls demand Cathay Cineplexes pay S$2.7M in unpaid rent & other costs
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Featured image adapted from Google Maps and Wikipedia.
