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.
As part of the bankruptcy, Alamo Drafthouse will close down a few underperforming locations and restructure its lease obligations. The company is requesting that the bankruptcy court approve a 75-day timeline for the transaction process and the $20 million debtor-in-possession credit facility led by Altamont and Fortress.
This blows!
No
KristinWunder
😭😢😭
😢 So ends my dream that AD will one day return to my hometown.
Alamo drafthouse will never be the same now, at all, they are going to strip that place of everything it is. That being said though, I knew the person who owned them, not too personally, but he was a major asshole anyways
Remember the Alamo
NopalitaMami remember when we went to an Alamo Drafthouse in Corpus and it was totally empty? 😅
Noooooo
ScottBeale NOOOOOO
I'm glad purely out of spite towards it asshole founder and the sexual harassers he associated with.
kickedtripod fuuuuuuuuuuuuck I hope this turns out ok
NOOOOOOOO
RIP - I have many a fond memory at the Brooklyn Alamo.
A friend said it best, 'I don’t mourn the business as much as the venue of communal film appreciation. Hopefully whatever takes its place will be better.'
This sucks
I always liked their specialty movie events! Food was good too.
so sad ..from san antonio tooo
Nooo
They should come to California, I'll gladly go when all this is over.
Well shit. There goes the best movie theater in Minnesota. My girlfriend and I have been eagerly looking forward to going back there since the pandemic began.
Bye
😢
Sad. This was my wife and I's favorite date night spot, back when we did such things. Thanks for the memories, Alamo.
😂
'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'. Thank you for your time. God Bless, John German
what? being sold to private equity? the sorts of firms that kill or ruin companies? sad day
even though I am team Arclight. This is still a bummer for the movie goer lifestyle
I accept partial blame for this since I only went once...1x to the Downtown Los Angeles location. Sorry.
Lighting bill cost too much
EquesTr0n
I think HarkinsTheatres should buy them and incorporate Alamo's dine in concept into it's entire chain
Get woke. Go broke.
Bummer
At least they require masks upon entry!
I don't know anything about Altamont, but I LOVE Alamo Draft House 😭😭😭
This is incredibly sad news.
MurphysLawX discounted prices coming soon.
RIP to the Kansas City location. I went there as often as I could but I can *bet* it'll be closed during the restructuring cause of course it will.
I'm sure they'll get bought but RIP to a legend
Noooo
Haha looks like Follow The Science Cost em
Hollywood will have to do better if I'm expected to consume their offerings sober.
NO. NO
Well, there go my hopes of probably ever seeing one come to Chicago.
Altamont Capital and Fortress Investment. Talk about names that make your skin crawl.
That's called freedom of choice.
Remember the Alamo
GameOverGreggy
They just couldn’t make it once Harry Knowles wasn’t around to spend money on concessions.
GameOverGreggy :(
DarinCredible Who books their comedy nights, Altamont or Fortress?
Heartbreaking
Oh No
cc karaswisher
thecatsmerrow Damn.
Altamont buys Alamo. I’m sure nothing could go wrong with these two solid names.
AaronSmirks sad