Projo Biz Blog

The parent company of Showcase Cinemas has reached a tentative agreement with lenders to restructure more than $1 billion in debt.

National Amusements said in a statement that the agreement would extend the maturity on the company's existing debt, which would total about $1.46 billion, to the end of next year. Payments would be due late this year and during next year. Substantially all of National Amusements' assets would secure the restructured debt.

National Amusements, based in Dedham, Mass., owns movie theaters with more than 1,500 screens in the United States, the United Kingdom, Latin America and Russia. Those include the Showcase Cinemas brand, which has theaters in Warwick and Providence Place mall in Rhode Island and in Seekonk, North Attleboro and Patriot Place in Massachusetts.

A spokeswoman for the company declined further comment today.

 Tags  movie theaters National Amusements Patriot Place Providence Place Showcase Cinemas

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