In serious difficulty, the Guzzo Group is already starting to lose ground. At the beginning of December, the first of ten cinema complexes will close its doors permanently, Le Journal has learned .
Located at the Galeries des Sources, near the metropolitan highway (A-40), in Dollard-des-Ormeaux, this IMAX complex includes five movie theaters.
Its closure is scheduled within a few days, at the “beginning of December”, its president, Vincenzo Guzzo , confirmed to the Journal .
Neighbouring CF Fairview Point-Claire, this shopping centre is owned by Bayfield Realty Advisors, of Toronto. The property owner, who also owns Le Carrefour centre in Trois-Rivières, did not respond to our interview request.
The Guzzo Group has been a tenant of this shopping center on Boulevard des Sources since its opening. The lease, which was due to end in December, will not be renewed.
“We were unable to reach an agreement on an extension […] Since it was a cinema that was losing money, we decided to let it go,” its president said in a sworn testimony last week.
$38 million to be repaid to CIBC
In a 27-page judgment, rendered last Friday, Judge Michel A. Pinsonnault of the Superior Court of Quebec authorized Raymond Chabot to exercise his sequestration powers with respect to some twenty companies of the Guzzo Group.
“CIBC [Canadian Imperial Bank of Commerce] is right to be concerned about the situation and the court must intervene by exercising its powers under the Bankruptcy and Insolvency Act (BIA) in the circumstances,” the judge wrote.
CIBC estimates that the Guzzo Group is short of some $38.6 million. Other private lenders, property owners and the governments of Quebec and Canada, among others, are also claiming tens of millions of dollars more.
it became the Duluth Spirit Valley theatre on October 3rd, 1975, showing movies for 99 cents and closed in early 1977. Reopened in 1978 as an adult cinema called Duluth. Another ad posted.
The Orpheum Strand, which originally opened on September 20th, 1915, was soon renamed the Strand. This theater first closed its doors in 1955, only to reopen on July 30th, 1971, as a venue for adult films until its final closure in 1986. A second screen was added on June 30th, 1978, and an advertisement was posted to announce the grand reopening.
Closed in 1999 after everyone preferred the new megaplex cinemas.
Opened on March 19th, 1999. Grand opening ads posted.
The Regal Avenues 20 opened on December 10th, 1999. Grand opening ad posted.
Rebuilt and reopened as the AMC Orange Park 24 on August 29th, 1997. Another ad posted.
6 screens on May 19th, 1995. Ad posted.
The first 12 screens opened on May 3rd, 1996. Grand opening ad posted.
Taken over by Kent theatres and reopened as the Atlantic 8 theatre on August 23rd, 1996. Another ad posted.
Listings for this theatre ended in 1992.
Final listings published on October 25th, 1994, leaving Eastern Federal with one cinema left. Two screens in 1980.
Closed May 27th, 1993. Article posted.
Stopped showing movies on September 23rd, 1994. Article posted.
Silverspot quits this location and reopened by Alamo Drafthouse as their first Florida location on April 29th, 2024.
Alamo & Drafthouse - Naples reopening 10 May 2024, Fri The Naples Daily News (Naples, Florida) Newspapers.com
Guzzo closed all its IMAX screens per official website (no showtimes). Willing to bet this cinema will not make it through 2025 as a Guzzo.
Maybe Ciné Enterprise or RGFM or Cineplex or someone else will pick it up.
Guzzo is in financial trouble.
Cinémas Guzzo will close this cinema in December per Le Journal de Montréal.
Part of the article in the King’s English.
https://www.journaldemontreal.com/2024/11/27/groupe-guzzo-un-premier-cinema-ferme-ses-portes
In serious difficulty, the Guzzo Group is already starting to lose ground. At the beginning of December, the first of ten cinema complexes will close its doors permanently, Le Journal has learned .
Located at the Galeries des Sources, near the metropolitan highway (A-40), in Dollard-des-Ormeaux, this IMAX complex includes five movie theaters.
Its closure is scheduled within a few days, at the “beginning of December”, its president, Vincenzo Guzzo , confirmed to the Journal .
Neighbouring CF Fairview Point-Claire, this shopping centre is owned by Bayfield Realty Advisors, of Toronto. The property owner, who also owns Le Carrefour centre in Trois-Rivières, did not respond to our interview request.
The Guzzo Group has been a tenant of this shopping center on Boulevard des Sources since its opening. The lease, which was due to end in December, will not be renewed.
“We were unable to reach an agreement on an extension […] Since it was a cinema that was losing money, we decided to let it go,” its president said in a sworn testimony last week.
$38 million to be repaid to CIBC In a 27-page judgment, rendered last Friday, Judge Michel A. Pinsonnault of the Superior Court of Quebec authorized Raymond Chabot to exercise his sequestration powers with respect to some twenty companies of the Guzzo Group.
“CIBC [Canadian Imperial Bank of Commerce] is right to be concerned about the situation and the court must intervene by exercising its powers under the Bankruptcy and Insolvency Act (BIA) in the circumstances,” the judge wrote.
CIBC estimates that the Guzzo Group is short of some $38.6 million. Other private lenders, property owners and the governments of Quebec and Canada, among others, are also claiming tens of millions of dollars more.
Opened December 19th, 1980. Grand opening ad posted.
Opened on January 22nd, 1971. Grand opening ads and pictures posted.
it became the Duluth Spirit Valley theatre on October 3rd, 1975, showing movies for 99 cents and closed in early 1977. Reopened in 1978 as an adult cinema called Duluth. Another ad posted.
The Orpheum Strand, which originally opened on September 20th, 1915, was soon renamed the Strand. This theater first closed its doors in 1955, only to reopen on July 30th, 1971, as a venue for adult films until its final closure in 1986. A second screen was added on June 30th, 1978, and an advertisement was posted to announce the grand reopening.
Listings appeared from 1921-1951. It was first mentioned in the Tribune on May 22nd, 1921.
Grand opening ad posted.
Skyline Drive-In 12 Sep 1948, Sun The Duluth News Tribune (Duluth, Minnesota) Newspapers.com
Another ad:
Norshor theatre opening 10 Jul 1941, Thu The Duluth News Tribune (Duluth, Minnesota) Newspapers.com
Reopened as the Norshor on August 22nd, 1910. Grand opening ads posted.
Opened on August 20th, 1914 as the new Grand theatre. Ad posted.
Opened August 3rd, 1891.
Lyceum theatre opening 03 Aug 1891, Mon The Duluth News Tribune (Duluth, Minnesota) Newspapers.com