Vue Cinema Chain Averts Liquidation Threat from Coca

Vue, the largest privately owned cinema chain in Europe, has successfully negotiated a settlement with Coca-Cola Europacific (CCEP). The resolution comes after CCEP filed a winding-up petition against Vue, a legal maneuver used to collect outstanding debts. The petition’s potential consequences could have resulted in Vue’s UK branch facing liquidation.

Settlement Details

Coca-Cola Europacific, the primary bottler for Coca-Cola in the independent sector, initiated the petition as a final attempt to recover a debt. Following the filing, both parties swiftly reached an agreement. Vue CEO Tim Richards stated that there are no outstanding payments, noting that the disputed sum was below £100,000.

Concerns Over Legal Action

Richards expressed disappointment over the initial approach. He remarked that after 25 years of partnership, a direct conversation could have resolved the issue. “The petition for winding up has been withdrawn and should never have been filed,” he added.

Company Financials

The precise details of the payment dispute remain unclear. However, Vue Entertainment Limited reported debts totaling £13.7 million ($18.5 million) in its most recent financial statements, covering the year ending November 2024. During that time, Vue’s sales increased by nearly 5%, reaching £287 million. The company also reported a pre-tax profit of £20.3 million.

Partnership with PepsiCo

As part of its strategy to enhance the cinema experience, Vue secured a deal with PepsiCo in March of the previous year. This agreement ensures exclusive supply of soda drinks to Vue cinemas until 2030.

Company Overview

Founded in 2003, Vue operates 1,900 screens across 200 locations in eight countries. The company continues to focus on providing exceptional movie-going experiences to its customers.