Ster-Kinekor Theatres’ business rescue practitioner Stefan Smyth has announced that the company’s creditors and shareholders have approved and adopted a business rescue plan that will see it get a R250-million senior debt facility from investors, Blantyre Capital and Greenpoint Capital.
“Suspensive conditions of the purchase by Blantyre Capital and Greenpoint Capital include amended commercial lease agreements, to be agreed with landlords and any regulatory or other approvals where applicable,” Smyth explained. “The BRP can then terminate the business rescue proceedings and transfer the shares in SKT to the investors,” he added.
Smyth said he was delighted at the overwhelming support from creditors and shareholders for the plan for Ster-Kinekor.
It’s one of SA’s worst companies. They don’t advertise. Never make use of their database (which is massive). Closed Cinema Nouveau without acknowledging that clientele in any kind of way. It’s such a waste.
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