Another major theater chain just filed for bankruptcy, but it’s not all bad news

Alamo Drafthouse, as part of its financial maneuvers, will sell its assets to Altamont Capital Partners as part of its filing for Chapter 11 bankruptcy, according to a report in Variety. The trade notes that the sale will include “substantially all of its assets,” although it notes that Alamo Drafthouse founder Tim League will remain and remain active in the company.

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