A Lovely 10C Site!

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.”

Private equity is going to kill its soul and that makes me so bummed since its a small driving distance from where I live. I have a friend that used to work at Alamo as a intern and I have been to the Yonkers, NY location several times over the years so this does hurt. Things will change and not for the better.

Yet another pandemic casualty in a long line. :(