Chelsea Quebec’s Sudermann brothers “gave the keys back” to Cineplex for their StarCite cinema but insist the failed enterprise was the result of a battle with their landlord and not a harbinger of greater financial troubles.

Feb. 17 front page
Robert Sudermann said the cinemas, which closed Feb. 1 to reopen the following day under the Cineplex banner, were too expensive due to rent and property tax. The rent went up Jan. 1 to $225,000 per month, he said, which raised their annual fees in rent and property taxes to $3.4 million.
“This has no effect on our ski operations whatsoever. It’s totally unrelated,” he said, referring to Banff’s Mt. Norquay, Camp Fortune and Mont Ste. Marie, where he just bought another 2,000 acres of property.
“This had everything to do with the property tax and the rental dispute and we just said ‘enough is enough.’” Read More…