This archive report was first published on 9 July 2020.
Published on July 9, 2020, auctioneers have raided IMAX Theatre at 20th Century Plaza on Mama Ngina Avenue, Nairobi over Sh8 million in rent arrears even as profits in the entertainment industry fell massively due to imposed Coronavirus restrictions.
The theatre was swept clean by Ideal Auctioneers on Wednesday, with equipment including retractable seats, projectors, TV sets, power back-up units, roof and wall-mounted speakers, POS, printers and computers, and bar and kitchen items being carried away.
According to Mr Paul Githirwa from Ideal Auctioneers, the order for sale of the property by the landlord is over accrued arrears amounting to more than Sh8 million.
Assets belonging to Arfa Arfa Limited, the operator of the cinema, will be subjected to a public auction on July 15, as indicated in a notice published by Ideal Auctioneers in local dailies.
“Under instructions received from our client, we shall sell by public auction the undermentioned goods on Wednesday 15th July, 2020 at 20th Century Plaza, Nairobi CBD at 11am,” the notice reads.
