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.
Ad claimed that it was the first twin cinema in the state.
Grand opening ad posted.
Reopened in June 2024.
Closed April 11th, 2024. Webshot posted.
Aerial and grand opening ads posted.
Grand opening ads posted.
All Guzzo IMAX theatres chainwide closed November 29th as the IMAX section of the Guzzo website is blank.
Taken over by Carmike Cinemas in 1995 and reopened with stadium seating on May 19th, 1999. Grand opening ad posted.
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.