We are quickly approaching the one-year anniversary of the last time movie theaters across the country were hosting full theaters packed with mask-less patrons. The economic toll from this past year of shutdowns and limited operations for theaters came to the forefront yesterday, when news broke that Alamo Drafthouse had filed for Chapter 11 bankruptcy protection.
As reported in outlets such as The New York Times and Variety, the Texas-based, dine-in theater chain — which operates about 40 locations across the country — will sell assets to some of its backers, a move that will provide the company with financing to get through the rest of the pandemic.
We're not going anywhere. pic.twitter.com/CgFXgvyHLm
— Alamo Drafthouse (@alamodrafthouse) March 4, 2021
Following yesterday’s bankruptcy news, the theater chain posted a statement on its social media accounts this afternoon, explaining that “Alamo Drafthouse isn’t going anywhere,” and that the company plans to grow its business and its team back to pre-pandemic levels. However, the company did announce yesterday that its downtown Austin location, also known as “The Ritz,” will permanently close.
The Chapter 11 filing isn’t the only Alamo Drafthouse news to get significant attention this week. On Tuesday, the theater chain tweeted a message stating that, despite the Texas government’s decision to lift all COVID-19 restrictions, all Alamo Drafthouse locations will continue to enforce social distancing and mask-wearing policies. The tweet went on to get more than 137,000 likes.
For more information about Alamo Drafthouse and which locations are currently operating, visit drafthouse.com. You can also support theater employees by shopping the Alamo Drafthouse collection at mondoshop.com.
