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PVR Cinemas has a shock during the lockdown period

2020-04-01 12:47:25 :

PVR Cinemas owns a chain of 870 screens throughout the nation and is the largest multiplex chain in the nation. PVR is badly hit as a consequence of the lockdown and it knowledgeable all the landlords and the malls that they’d not be paying the rents of the multiplexes during the lockdown period. PVR Cinemas reminded the landlords about the ‘force majeure’ clause in the signed rental contract. The buying malls and multiplexes throughout the nation are shut from the previous two weeks and the lockdown will proceed for the subsequent two weeks.

PVR has no personal screens and all of them are operated on a rental foundation. States like Telangana ordered the closure of malls and multiplexes a lot prematurely. PVR claims that they’re dropping massive due to the disaster and they’d not be capable of pay the rents during this robust time. The only screens throughout AP and Telangana too are badly hit as a consequence of the disaster. It’s unclear as of now if the different multiplex chains too observe the identical or in the event that they step forward to pay the rents during this disaster.

Earlier article Nizamuddin corona contagion: 15 instances reported in Jagan’s residence turf Kadapa, AP tally 87

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