Astoria Cinemas files for bankruptcy

The troubled Swedish cinema chain Astoria filed for bankruptcy at Stockholm district court on Tuesday.

Last autumn the company, saddled with debts worth 80 million kronor, avoided a crisis by selling its regional cinemas to SF Bio. Creditors also agreed to write off 25 percent of the debts.

At the end of May SF Bio bought Astoria’s cinemas in Stockholm and Gothenburg, and managing director Mattias Nohrborg resigned. A month later his company, Triangelfilm, went bankrupt.