The deal is similar to one finalized last week for fellow dine-in chain Studio Movie Grill, which slashed its debt by $100 million and received $25 million in liquidity as part of an equity deal with a group led by Goldman Sachs.
As part of that deal, Studio Movie Grill will operate 20 locations, including a new one in Georgia, while shuttering 13 others.
April also saw the announcement that ArcLight Cinemas and Pacific Theaters will not reopen, prompting intense interest in the chains’ high-profile locations in Southern California. .
Read more on thewrap.com
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