Grab your choc tops and popcorn because Majestic Cinemas Port Macquarie and Kempsey's Riverside Movies are here to stay.
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Regional Cinemas Australia will take ownership of four cinemas on the Mid North Coast as part of a sale agreement with Majestic Cinemas after administrators were appointed on February 1 when the business went into voluntary administration.
Regional Cinemas Australia is a new business which registered with ASIC on February 26, 2024.
Former CEO of Majestic Cinemas Kieren Dell will continue in this role with Regional Cinemas Australia.
"Legally what had to happen was the old company, to the administrator, needed to sell to a new company, so Regional Cinemas is the new company," Mr Dell said.
"It was about setting up a new legal entity to have a sustainable business going forward.
"But it's the same people and the same staff, so that's why we can make the decision to accept Majestic gift cards and membership going forward."
Regional Cinemas Australia will take over management of Majestic Cinemas Port Macquarie, Sawtell Cinema, Nambucca Cinema Centre and Riverside Movies Kempsey from March 28.
Mr Dell said they've "worked tirelessly" over the past seven weeks with stakeholders to create a sustainable business model moving forward.
"Whilst we're excited by the outcome, it's been an incredibly difficult process, where some Majestic locations in other regions have closed in order to secure a future for the business on the Mid North Coast," he said.
"I'd like to specially mention the support of our landlords at our Mid North Coast sites - their passion and desire to see cinema continue in their towns has been critical to us being able to move forward and continue to provide quality entertainment."
Closure of other sites
Majestic Cinemas previously operated nine theatres located in Nambour, Port Macquarie, Inverell, Nambucca, Wynnum, Kempsey, Singleton, Sawtell, and Nelson Bay.
Mr Dell said the three sites at Wynnum, Singleton and Nelson Bay closed within a week of the business going into administration.
"They were sites that were not viable," he said.
"The building owners at Wynnum have reopened and Nelson Bay could possibly continue operating, Singleton probably won't reopen and Nambour will stay open until the end of the school holidays."
Mr Dell said Regional Cinemas Australia is currently in negotiations to manage the Inverell cinema.
Focus on the Mid North Coast
Mr Dell said operating under a new business model will allow the company to refocus on the Mid North Coast.
"We're lucky that our landlords here on the Mid North Coast did work with us," he said.
"What we're moving towards is a more local approach for each of the four remaining cinema sites.
"It's a chance to refocus back on the Mid North Coast where we have been operating for 21 years."
Joint administrator Terry van der Velde said the "sale of the four sites is expected to result in a more favourable outcome to the creditors of Majestic Cinemas and a reduction of creditor claims in any potential liquidation scenario".
The new business model on the Mid North Coast means all current employees will retain their jobs.
The potential for job losses was a "concern" for Regional Cinemas Australia Executive Chairman Wayne Wilson.
"The cinema industry has been impacted through a variety of factors across the last few years, and developing a sustainable model that allows for four cinemas across the coast to continue under the banner of a broader group has allowed us to keep our staff employed," he said.
"Like any business, our employees are the heart of what we do, and it was always our aim to find a way to keep our staff employed and for our customers to continue to be served by the same friendly faces."
Mr Dell thanked the community for their "unwavering support".
"It's been incredibly humbling in what has been a challenging time for a business we've spent 21 years growing," he said.
"It's been quite remarkable seeing what we mean to our local audiences and reminds us why we love what we do and how it brings people together."
The Port Macquarie cinema will be the only one to retain the Majestic name, with the three other locations rebranding to Sawtell Cinema, Riverside Movies Kempsey and Nambucca Cinema Centre.
Majestic gift cards, vouchers and movie club cards will continue to be accepted at all of these four sites, with all their original benefits and conditions applying to their usage going forward.
Going forward audiences should head to www.regionalcinemas.com.au for session times and tickets.
