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Thursday, Mar 28, 2024

Muvico Theaters in legal, financial bind

Muvico Theaters, known for its elaborate themed multiplex cinemas, is embroiled in litigation over mounting financial problems that have left the theater chain on the verge of bankruptcy and facing eviction at several of its locations. Since October, Muvico hasn’t made payments on a $60 million line of credit or on the leases for five theaters held by affiliates of real estate investment trust iStar Financial. Now the New York REIT is foreclosing on the loan and trying to take control of the Fort Lauderdale company. For the full story click here

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