Palace Amusement Closes Palace Cineplex and Palace Multiplex As Pandemic Depresses Performance

  • Despite the best efforts of management to minimize overheads by way of, inter alia negotiating with landlords, utilizing fewer screens to minimize electricity cost and staff rotation, there are various costs that are unavoidable whether or not the cinemas are operating.
  • Despite its best efforts, attendance at the cinemas continues to be severely impacted by the fluctuation in curfew hours and the spike in community spread of the Coronavirus.
  • Operations at Palace Multiplex were previously negatively impacted by the ZOSO and States of Emergency in St. James and the pandemic has far worsened the situation. Palace Cineplex has also suffered especially grave repercussions with attendance at zero on some occasions.

(Source: JSE)