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Alamo Drafthouse Cinemas files for bankruptcy, seeks buyer

AUSTIN, Texas (AP) Alamo Drafthouse Cinemas Holdings, a Texas-based dine-in theater chain, said Wednesday that it has filed for bankruptcy and will enter a restructuring agreement due to financial woes during the pandemic.The company plans to sell most of its assets to affiliates of Altamont Capital and Fortress Investment Group under Chapter 11 bankruptcy, which allows Alamo Drafthouse to continue operating while its managers and advisers work on repaying creditors.“The transaction will provide the company with much-needed incremental financing to stabilize the business during the pandemic, which has had an unprecedented and outsized impact upon the movie theater and dining industries,” the company said in a statem

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