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Alamo Drafthouse files for bankruptcy; at least one Denver-area location will survive

Alamo Drafthouse
Posted at 4:21 PM, Mar 03, 2021
and last updated 2021-03-03 18:25:40-05

AUSTIN, Texas — Alamo Drafthouse Cinemas Holdings, a Texas-based dine-in theater chain, says it filed for bankruptcy due to financial woes during the pandemic.

The chain operates three locations in the Denver area -- Littleton, Westminster and Denver. The Austin-based company confirmed the Denver location, located at 4255 W. Colfax Ave., is safe for now. However, it's unclear if the other locations will resume operations once COVID-19 restrictions are eased.

The company, which has more than 40 theaters nationwide, did announce closures at three company-owned theaters in Austin, and locations in Kansas City, and New Braunfels, TX.

The company plans to find a buyer during its Chapter 11 bankruptcy, which allows it to continue operating while its managers and advisers work on repaying creditors.

The company says the sale will provide “much-needed incremental financing to stabilize the business during the pandemic.” Alamo Drafthouse listed assets and liabilities of as much as $500 million each in its bankruptcy petition.

The Associated Press contributed to this story