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The COVID-19 pandemic has closed countless shops, restaurants and venues, but it seems like there is a ray of hope on the horizon. Now that COVID vaccines are being distributed in the US, not only are more things opening, but some companies that have seemingly closed for good are reopening their doors. This is the case with a popular cinema chain that is planning to open new locations after filing for bankruptcy recently. Read on to find out which popular chain is back from the brink.
CONNECTED: This popular cinema chain has just filed for bankruptcy.
Alamo Drafthouse filed for bankruptcy in March.
Popular film chain Alamo Drafthouse filed for Chapter 11 bankruptcy protection on March 3, 2021, citing financial difficulties related to the COVID-19 pandemic.
The chain, which at the time operated 41 theaters, subsequently sold the majority of its assets to Altamont Capital and Fortress Investment Group in an effort to keep most of its individual locations afloat. The cinema now hopes to open new locations across the country in the near future.
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The chain has permanently closed three of its locations due to bankruptcy.
In March, Alamo Drafthouse announced that it had operations in Kansas City, Missouri; New-Braunfels, Texas; and the famous Ritz Alamo Drafthouse in Austin, Texas would close permanently.
“It’s hard to imagine the Alamo Drafthouse without The Ritz. For the past twelve and a half years, The Ritz has represented what Alamo Drafthouse theaters could be,” the chain said in a statement on the Austin theater closure. “After COVID, we will ensure that all of our signature series find a new home in another Austin Alamo Drafthouse Cinema and that the spirit and personality of The Ritz continues.”
Five new Alamo Drafthouse cinemas open in the United States
The story goes on
After the bankruptcy proceedings, Alamo Drafthouse is now planning to open five new locations in the United States. The new theaters will open in the New York boroughs of Manhattan and Staten Island; St. Louis, Missouri; Arlington, Virginia; and Washington, DC
“We are excited to reopen cinemas across the country and to welcome audiences back to an unparalleled cinematic experience with films that we have been waiting eagerly for over a year,” said Alamo Drafthouse CEO Shelli Taylor in a statement (via The Hollywood Reporter).
The chain is still in the process of reopening many of its theaters.
On March 16, 2020, Alamo Drafthouse announced that all of its theaters would be at least temporarily closed.
As of June 2021, however, 13 of the chain’s theaters – in Austin, Corpus Christi, El Paso, San Antonio, and Houston, Texas; Brooklyn, New York; Charlottesville, Ashburn, Woodbridge, and Winchester, Virginia; Denver, Colorado; Phoenix, Arizona; Raleigh, North Carolina; Los Angeles, California; and Springfield, Missouri – had reopened.
The chain has also announced that it will reopen additional locations in San Antonio and Denver, as well as a location in Omaha, Nebraska, on June 18. Another six locations – Yonkers, New York; Woodbury, Minnesota; and locations in Dallas / Fort Worth, Laredo, Lubbock, and Austin, Texas – will reopen in July.
CONNECTED: This popular business closes 65 locations.
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