mm2 Asia's (SGX:1B0) associated company, Cathay Cineplexes, has closed its outlet at the JEM shopping mall in Singapore, according to a Thursday filing with the Singapore Exchange.
The company has ceased operations due to challenges facing the cinema industry since Covid-19 and had been negotiating with the landlord for over a year.
However, the company is going to continue exploring new opportunities to enhance cinema going experience and will work on enhancing its offerings.
Shares of the company were down over 10% in recent trading.
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