Cinema des Sources 10

rivest266 on October 5, 2009 at 4:18 pm

Another Guzzo in an old Miracle Mart. The opening of this cinema has put an end to the Famous Players and Cineplex Odeon monopoly on new movies. Cineplex had Universal, Columbia Tri-Star, Warner (French), Fox and Famous Players had Paramount, Warner (English), Disney, MGM,

rivest266 on November 29, 2013 at 5:34 pm

Plans for a new IMAX theatre carved out of two cinemas appeared to have halted. I uploaded an ad from November 1st, 2013.

rivest266 on March 20, 2014 at 4:45 pm

The IMAX screen opened on March 19th, 2014.

rivest266 on November 27, 2024 at 8:28 am

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.

Spectrum Entertainment on December 6, 2024 at 4:53 am

This cinema’s last day is on December 8, 2024, with its final films being Gladiator II, Moana 2 and Wicked (Part 1). At this point, the IMAX theatre already closed.