Alamo Drafthouse Cinema is set to open five new theaters this year and next after emerging from a Chapter 11 bankruptcy.
In March, the independent theater chain known for its thematic screenings filed for bankruptcy protection as part of a restructuring agreement that included selling assets to affiliates of Altamont Capital and Fortress Investment Group.
With new financing to get Alamo Drafthouse past the pandemic, the chain now plans to open a 14-screen theater at 28 Liberty in Manhattan, and the previously announced Staten Island theater remains in development. Separate 9-screen theaters in Washington, D.C., and Arlington, Virginia, are also in the works, as well as a new theater in St. Louis’ Midtown district.
“We’re so thrilled to be reopening theaters across the country and welcoming back audiences for an unparalleled moviegoing experience with films we’ve been eagerly awaiting for over a year now,” Alamo Drafthouse CEO Shelli Taylor said in a statement.
“We’re so grateful to our incredible partners at Altamont and Fortress, who are completely aligned with our vision for Alamo Drafthouse’s growth. It’s incredibly exciting to be back on that path so we can bring the Alamo Drafthouse experience to new locations around the country, including our very first locations in Manhattan, St. Louis, and D.C.,” Taylor added.
Alamo Drafthouse operates about 40 theaters in the U.S.
