Cinemas Guzzo

Cinemas Guzzo chain closes temporarily

Local Journalism Initiative / The Suburban / August 4, 2025 / Cinemas Guzzo, Dan Laxer, Raymond Chabot, Vincenzo Guzzo

By Dan Laxer
The Suburban

A Quebec Superior Court judge has approved the closure of all theatres in the Cinemas Guzzo chain.

The post-Covid period has not been kind to the company. During the pandemic, owner-operator Vincenzo Guzzo railed against the government’s blanket closures of establishments, including movie theatres. Like a lot of businesses, Cinemas Guzzo has had trouble bouncing back.

At one time the largest movie theatre chain in the province, Guzzo has been steadily closing locations due to financial pressures, including the Méga-Plex locations in Marché Central and in Saint-Jean-sur-Richelieu, and before that – as reported in The Suburban – the Dollard des Ormeaux location.

The company had been placed under receivership, overseen by Dominic Deslandes of Raymond Chabot, who had petitioned the court to allow the receiver to close the cinema chain, which has been steadily losing money – a “financial hemorrhage,” as Judge Michel Pinsonnault termed it in his ruling, granting the request.

Cinemas Guzzo was initially put under interim receivership in November of last year, and then given a reprieve of 13 weeks in which it was hoped it would get its financial issues in order, and avoid the closure of more locations than necessary.

The court found that Guzzo had been making “irregular” payments, and the closure comes as the receiver doubts the company’s ability to put its finances in order.

The closure is not necessarily permanent, according to Pinsonnault’s ruling. However, neither Raymond Chabot nor Cinemas Guzzo provided any indication as to what that means for the future of the chain. n

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Cinema Des Sources in DDO to close

Local Journalism Initiative / The Suburban / December 25, 2024 / Chelsey St-Pierre, Cinema Des Sources, Cinemas Guzzo, Dollard-des-Ormeaux

By Chelsey St-Pierre
The Suburban

The closure of Cinema Des Sources in Dollard-des-Ormeaux marks a significant moment for Cinemas Guzzo, Quebec’s largest chain of independent movie theatres. Vincenzo Guzzo, the entrepreneur behind the chain, has acknowledged the challenges faced by the industry, particularly in light of recent financial pressures.

Recently, Quebec Superior Court Judge Michel Pinsonnault placed Cinemas Guzzo under interim receivership, necessitating financial transparency with Raymond Chabot, a firm specializing in financial recovery. This move is part of CIBC’s efforts to seek liquidation over an outstanding $38 million debt, with the bank expressing frustration over extended payment delays.

Guzzo, while refraining from discussing the specifics of the ruling, has assured compliance with the court’s directives, stating, “I’m doing my job. We’re getting it done.” He clarified that the decision to close Cinema Des Sources was made prior to these proceedings, citing an expiring lease as the primary reason.

The pandemic has had a devastating impact on the cinema industry, with prolonged closures severely affecting revenue streams. Guzzo acknowledged this impact, noting the nearly two years of restrictions that have challenged theatre operators.

Beyond his role in the cinema industry, Vincenzo Guzzo is well-known for his appearances as a “Dragon” on the Canadian reality television show Dragons’ Den, where he invests in and mentors aspiring entrepreneurs. His dynamic personality and business acumen have made him a popular figure on the show.

In addition to his business ventures, Guzzo is recognized for his philanthropic efforts. He has been involved in various charitable activities, including significant donations to healthcare institutions in Quebec, demonstrating his commitment to giving back to the community.

Guzzo’s contributions extend to his active participation in community development, where he supports initiatives aimed at enhancing local infrastructure and services. His involvement in both business and community efforts reflects a multifaceted approach to leadership and social responsibility. n

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