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 owners of the Omaha area franchises announced in a press release that the local entity, which owns locations in Midtown Crossing and La Vista, is not bankrupt.
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, Kansas City, Mo. and the Omaha, Nebraska area.