Luxury Movie Theater Chain IPic Files For Chapter 11 Bankruptcy Protection

Luxury movie theater operator iPic Theaters has filed for Chapter 11 bankruptcy reorganization, planning to sell its assets but vowing to try to return to operating after a restructuring. Pending “a process to maximize value to all creditors,” the company will continue to operate and conduct business during what it called an “expedited sale process” […] An iPic Theaters location in Pasadena, CA RBL/Bauer-Griffin/GC Images Luxury movie theater operator iPic Theaters has filed for Chapter 11 bankruptcy reorganization, planning to sell its assets but vowing to try to return to operating after a restructuring. Pending “a process to maximize value to all creditors,” the company will continue to operate and conduct business during what it called an “expedited sale process” for its assets. All company employees received WARN notices about the action. The move was announced overnight last Thursday, escaping wide media attention during the chaotic series of events in the Warner Bros. Discovery-Paramount-Netflix merger saga. Related Stories News AMC Networks Expands Ad Initiative To Theatrical Moviegoing, Boosts AI Partnership With Runway