Art Penn Quoted in Reorg

Middle Market Movie Theater Industry Headwinds Exacerbated by Pandemic; Consolidation Remains in Question as Uncertainty Among Larger Players Plagues Industry

By Millie Dent – Reorg

PennantPark Founder and Managing Partner Art Penn spoke with Millie Dent of Reorg for her piece on the outlook for middle market movie theaters in 2021 and discussed some of the obstacles that middle market theaters are facing as they aim to access additional capital. Art noted that larger chains are able to “access capital more efficiently because loan buyers are forced to deploy,” whereas “middle market investors tend to be a bit more thoughtful and in less of a rush to deploy capital.”