CitizenVectron Posted March 3, 2021 Share Posted March 3, 2021 Au revoir to The Ritz. | Austin News | Alamo Drafthouse Cinema DRAFTHOUSE.COM We say goodbye to our downtown Austin location. Quote Alamo Drafthouse Cinema, the Texas-based theater chain that has become a favorite with cinephiles for its dine-in service and fan-forward approach to exhibition, has filed for Chapter 11. The bankruptcy filing comes as part of an asset purchase agreement with Altamont Capital Partners, a previous investor in the company, as well as affiliates of Fortress Investment Group, a new backer. The company says that operations will continue as normal and the Chapter 11 process and sale will give it the capital it needs to continue operating as it emerges from a public health crisis that left many of its locations closed for months. The agreement involves “the sale of substantially all its assets.” Founder Tim League will remain involved with the company and is among the lender group buying the assets. League became the company’s executive chairman in April, with Shelli Taylor, a former Starbucks executive, assuming the role of CEO. Alamo Drafthouse runs roughly 40 locations and is headquartered in Austin, Texas. 1 Quote Link to comment Share on other sites More sharing options...
Keyser_Soze Posted March 3, 2021 Share Posted March 3, 2021 @sblfilms is buying them. Quote Link to comment Share on other sites More sharing options...
ARZ Posted March 3, 2021 Share Posted March 3, 2021 Loved the one in NOVA, went there often before COVID. Sad Quote Link to comment Share on other sites More sharing options...
Guest Posted March 3, 2021 Share Posted March 3, 2021 Good for Tim Quote Link to comment Share on other sites More sharing options...
Brian Posted March 3, 2021 Share Posted March 3, 2021 46 minutes ago, Keyser_Soze said: @sblfilms is buying them. Honestly it feels like he is slacking. He should have bought AMC by now. Quote Link to comment Share on other sites More sharing options...
Keyser_Soze Posted March 3, 2021 Share Posted March 3, 2021 43 minutes ago, ManUtdRedDevils said: Honestly it feels like he is slacking. He should have bought AMC by now. Quote Link to comment Share on other sites More sharing options...
Spawn_of_Apathy Posted March 3, 2021 Share Posted March 3, 2021 Abbott’s reckless re-opening next week was too late to save them. Quote Link to comment Share on other sites More sharing options...
Guest Posted March 4, 2021 Share Posted March 4, 2021 I just realized that one of the closing locations for Alamo Drafthouse is is the New Braunfels location. My connection to that site is back when I opened my original theater around 2012, I purchase seats, screens, speakers, and popcorn machines from the theater that was there before Alamo took it over and completely remodeled the whole thing. The screen, speakers, and popcorn machine are still in my little indoor theater Quote Link to comment Share on other sites More sharing options...
Kamusha Posted March 5, 2021 Share Posted March 5, 2021 I loved going to Alamo Drafthouse back when I lived in the DC area. It totally lived up to the hype, shame this is happening. Quote Link to comment Share on other sites More sharing options...
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