Alamo Drafthouse Cinemas files for bankruptcy, seeks buyer
AUSTIN, Texas (AP) — Alamo Drafthouse Cinemas Holdings, a Texas-based dine-in theater chain, says it filed for bankruptcy, citing financial woes during the pandemic.
The company plans to find a buyer during its Chapter 11 bankruptcy, which allows it to continue operating while its managers and advisers work on repaying creditors.
The Austin-based company says the sale will provide “much-needed incremental financing to stabilize the business during the pandemic.”
Alamo Drafthouse listed assets and liabilities of as much as $500 million each in its bankruptcy petition.
The Austin-based company has more than 40 theaters nationwide, including some in the Dallas-Fort Worth area and Kansas City, Missouri.
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