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PVR Cinemas Shocks The Landlords!
By: Tupaki Desk | 1 April 2020 10:20 AM GMT
PVR Cinemas, the largest multiplex chain with 870 Theaters in India gave a shock to its Landlords. It is evident that PVR doesn't own a single theater in the country and they are just operators. PVR Cinemas takes the Theaters on rentals, renovates and operates with their staff by paying rent to the landlord or the theater owner.
Corona crisis has hit the PVR Multiplex business badly. Imagine how hard it is for them to survive the rents and salaries of the office staff. Citing the hard times under the 'force majeure' clause signed in the contracts, PVR Cinemas has issued a notice to all its landlords saying them that they are not in a position to pay this March month's rent which gave a shocker to the landlords.
Imagine such a rich Organization denying the rents sends a bad signal on the economic crisis in India. PVR Cinemas should have at least negotiated talks to pay partial amounts to their landlords which would in a way promote the good will on the brand.
Corona crisis has hit the PVR Multiplex business badly. Imagine how hard it is for them to survive the rents and salaries of the office staff. Citing the hard times under the 'force majeure' clause signed in the contracts, PVR Cinemas has issued a notice to all its landlords saying them that they are not in a position to pay this March month's rent which gave a shocker to the landlords.
Imagine such a rich Organization denying the rents sends a bad signal on the economic crisis in India. PVR Cinemas should have at least negotiated talks to pay partial amounts to their landlords which would in a way promote the good will on the brand.
