Spurlings plotting move for Tallaght multiplex cinema

Oscar winner Frances McDormand urged a return to cinemas in her acceptance speech. Photo: Todd Wawrychuk

John Mulligan Twitter Email

April 29 2021 02:30 AM

The Spurling family that controls what are normally two of the country’s busiest cinema multiplexes – Movies@Swords and Movies@Dundrum - is understood to be preparing to take over operation of the former Irish Multiplex Cinema (IMC) complex at The Square in Tallaght.

The 12-screen IMC venue went into receivership last year as the pandemic hammered the cinema business.

The expected takeover of the cinema operation by the Spurlings would be a significant coup for The Square.

It would also be a vote of confidence by the cinema group that movie-goers will be keen to flock to theatres once the country’s pandemic restrictions are further eased.

Frances McDormand, who won the best actress Oscar this week for her role in Nomadland, urged people in her acceptance speech to return to cinemas as they reopen.

The Movies@Cinemas business also operates multiplexes in Dungarvan and Gorey. It’s jointly headed by Graham Spurling, who was uncontactable yesterday. Filings at the Companies Registration Office show that Mr Spurling is a director of a new firm called Movies@TheSquare.

The cinema at The Square in south Dublin was the first such multiplex in the country when it opened in 1990. UCI operated the multiplex until 2010. IMC took over its operation in 2012.

IMC operates cinemas across Ireland, including the Savoy in Dublin. The company is controlled by the Ward family.

When it exited The Square last summer, it blamed the unprecedented impact of the pandemic and the “significant” rent and service charge on the multiplex.

“These two factors combined have now made the business no longer viable,” IMC said at the time.

In 2018, US investment group Oaktree Capital took control of The Square, by buying €240.2m in loans from Nama in a deal that was bankrolled by AIB.

The shopping mall is managed by Dublin-based Sigma Retail Partners on behalf of Oaktree Capital.

Before the pandemic struck, there were plans to expand The Square in a €100m project that would include a food hall, nine restaurants and bars as well as a public plaza.

While those plans have been put on hold, Sigma said last year that it remains committed to medium and long-term development of The Square.

In 2018, the Spurlings brought the multiplexes at Swords and Dundrum under the family’s sole control after they bought out their fellow shareholders in the venues, the O’Gorman family, who also had a long involvement in the cinema business.