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Bankrupt Alamo Drafthouse Goes With Stalking Horse Bid
Law360 (April 27, 2021, 4:59 PM EDT) Alamo Drafthouse Cinemas has told a Delaware bankruptcy court it is canceling its auction and going with its stalking horse credit bid led by creditors private equity firm Altamont Capital Management and investment manager Fortress Investment Group.
Austin, Texas-based Alamo said in the Monday filing in Delaware bankruptcy court it was canceling its auction that was previously scheduled for Wednesday and going with its stalking horse after it didn t get any additional bidders for the company in its Chapter 11 proceedings. No other qualifying bids were received prior to the bid deadline. Accordingly, pursuant to the bidding procedures order and bidding.
Bankrupt Alamo Drafthouse Goes With Stalking Horse Bid law360.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from law360.com Daily Mail and Mail on Sunday newspapers.
Movie theater chain Alamo Drafthouse Cinemas filed for Chapter 11 protection in Delaware bankruptcy court Wednesday with nearly $123 million in debt and a plan for a sale to a pair of investment firms, saying the strain of COVID-19 closures had become too great.