The Mail on Sunday
Vue helped by recession
VUE Cinemas has narrowed its losses by more than a third after recession-struck Britons opted to save money by going to films rather than to nightclubs or restaurants.
The chain, which is in the process of digitising its 69 cinemas, cut its deficit to £14.4 million in the year to last November. Hits such as James Cameron’s 3D spectacular Avatar helped to push up sales by ten per cent to £272 million.
Vue is part-owned by Lloyds Banking Group through the HBOS Integrated Finance portfolio. A sale of the beleaguered private equity-style fund could come within weeks.
Coller Capital and 3i are understood to be in lastround talks with Lloyds.