Kathy Tran Alamo Drafthouse Cinema has filed for Chapter 11 bankruptcy. The filing is part of a sale to Altamont Capital Partners and others. It comes as the movie-theater industry continues to be hit hard by the pandemic. Visit the Business section of Insider for more stories. The specialty theater chain Alamo Drafthouse Cinema has filed for Chapter 11 bankruptcy as the coronavirus pandemic continues to devastate the movie-theater industry in the US.The company said the filing is part of a sale of "substantially all its assets" to its lender group that includes the private equity firm Altamont Capital Partners, affiliates of the investment management firm Fortress Investment Group, the company's founder and executive chairman Tim League, and other original investors.The Texas-based company has more than 40 corporate-owned and franchise locations throughout the US, but will close some struggling locations as it reevaluates lease agreements.
The Movie-theater Chain Alamo Drafthouse Cinema Has Filed For Bankruptcy And Is Being Sold
tclark@insider.com (Travis Clark), Business Insider
Wed, 03/03/2021 - 7:58am
Topics: and marvel kathy tran visit fortress investment group tim league texas-based bankruptcy court august regal cineworld uk james bond no time die marvel's black widow north american comscore business insider alamo drafthouse cinema chapter altamont capital partners business insider alamo drafthouse alamo league movie-theater industry company locations filing sale pandemic employees theatrical continues releases firm lender closed original
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