AUSTIN, Texas — Fans of Alamo Drafthouse theaters can breathe a little easier now. The Austin-based chain announced this week that it has turned the page on its Chapter 11 bankruptcy filing and it's looking forward to coming attractions.
According to KVUE's media partners at the Austin American-Statesman, Alamo Drafthouse has emerged from its Chapter 11 filing with the completion of a sale to an investor group that includes private equity firm Altamont Capital Partners, Fortress Investment Group and Drafthouse founder Tim League.
Now, the company is focusing on expanding. Alamo Drafthouse Lower Manhattan is set to open this fall, and Alamo Drafthouse D.C. will open this winter.
Next year, Alamo Drafthouse plans to open its National Landing at Crystal City location in Arlington, Virginia, as well as locations in St. Louis and Staten Island. The latter will feature a kung fu-themed video store and bar called The Flying Guillotine, curated by RZA, founder of the hip-hop group Wu-Tang Clan.
After closing locations in March 2020, Alamo Drafthouse declined to reopen its Texas theaters right away when Gov. Greg Abbott allowed indoor cinemas to resume operations in April 2020. The company later reopened some locations last summer.
The company also launched its own streaming platform, Alamo On Demand, during the pandemic.
In March 2021, the company announced it had filed for Chapter 11 bankruptcy and would close three of its locations, including the Alamo Drafthouse Ritz in Downtown Austin.
As of June 4, four Austin Alamo Drafthouse locations are open. The Lakeline, Slaughter Lane and South Lamar locations opened earlier this year, and the Mueller location reopened last week. The Village location is set to reopen in July.
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