EXCLUSIVE: Vue, Europe’s largest privately owned cinema chain, has settled a payment dispute with Coca-Cola Europacific, the world’s largest independent Coca-Cola bottler.
Coca-Cola Europacific (CCEP) this week issued Vue with a “winding-up petition,” which in the UK is often the last resort taken by a creditor when attempting to recover debt.
A significant step, CCEP was essentially seeking a court order to put Vue’s UK operating company into liquidation, meaning it faced the threat of closure. Debt recovery specialist Coltman Warner Cranston was acting for CCEP, per a legal filing.
Since the petition was filed, however, the matter has been settled. A spokesperson for Vue said: “Vue and Coca-Cola can confirm that all outstanding payments have been resolved.” A CCEP spokesperson echoed this sentiment.
The value of the unpaid bill is not known. Vue Entertainment Limited’s most recent accounts, capturing a year of trading to the end of November 2024, showed that it owed trade creditors £13.7M ($18.5M).
Vue Entertainment Limited sales increased nearly 5% to £287M during this period, with the company posting a pre-tax profit of £20.3M, according to the Companies House filing.
In March last year, Vue signed an exclusive deal with PepsiCo to supply its cinemas with soda drinks until 2030. Vue CEO Tim Richards said it would help the chain deliver customers the “ultimate big screen experience.” Founded in 2003, Vue operates 1,900 screens across 200 sites in eight countries.
