Thurso cinema owner hoping to secure investment
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THURSO Cinema is facing closure unless its operator can come up with urgently needed new investment.
Boss Rob Arthur is looking to secure an injection of several hundred thousand pounds into the Ormlie Road complex and the three other cinemas he runs.
He was speaking in the wake of Her Majesty’s Revenue and Customs (HMRC) issuing a petition to wind up his business.
Mr Arthur could not guarantee the future of the cinema but he said talks with investors are moving positively and hopes the necessary funding can be secured by next month.
The future of the business was thrown into doubt after it was revealed HMRC presented a petition to Wick Sheriff Court on July 24 asking the court to appoint a liquidator to wind up the business.
Mr Arthur is looking for several hundred thousand pounds from new shareholders to safeguard and progress plans at Thurso Cinema along with his other ventures in Campbeltown, Fort William and Prestatyn in north Wales.
“We are working to obtain investment to ensure the jobs and the cinema are secure,” he said.
“I hoped to have the investment in place by the turn of the year but, as the issue has gone on for a long time, HMRC have become impatient. HMRC officers and accountants are aware of what is going on and Highlands and Islands Enterprise have also been kept up to date. As long as I can get everyone on board at the same time, we should be okay and that is why we are continuing to trade now.”
The Lothian businessman reopened the cinema on July 27, 2012, with the aim of making Thurso the first of a chain of cinemas based in rural towns across the UK.
