Russias largest film network demand to pay 12 billion rubles of debt

The main lender of cinema network โ€œCinema Parkโ€ Bank โ€œTrustโ€ demanded early payment of debts amounting to 12 billion rubles. At the beginning of the year, the company already wrote off 450 million rubles as repayment of part of the debt and at the same time sued the owner of the film network Alexander Mamut, demanding 1 billion rubles. However, a new demand was made in March for breach of the terms of the loan agreement.

Now โ€œCinema Parkโ€ does not have funds to pay debt – in 2020 the net loss of the firm increased by 90% and reached 7. 8 billion rubles.

The total debt to the bank is 19. 82 billion rubles.

The total share of the network on the market is 11. 5% – there are 77 venues with 641 cinema halls.

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