Brent Lang Executive Editor of Film and MediaAlamo Drafthouse Cinema, the Texas-based theater chain that has become a favorite with cinephiles for it 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.
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