Alamo Drafthouse Cinema Is Reportedly Trying For a Purchaser


Nostalgic movie show chain, Alamo Drafthouse, is reportedly searching for a purchaser.

Based on Selection citing two nameless sources, the Texas-based chain has approached “a number of Hollywood studios” to presumably buy the corporate.

Alamo Drafthouse is widespread amongst moviegoers for being one of many first chains to supply in-theater eating whereas watching a film, providing native draft beers, craft cocktails, and an intensive meals menu.

Associated: Report: Amazon Eyeing Buy of AMC Theaters

The corporate filed for Chapter 11 chapter safety amid the pandemic in March 2021 however emerged later that 12 months in June 2021 after being offered to Altamont Capital Companions.

Although the corporate shuttered its Phoenix location and different “underperforming” venues through the pandemic, it has since opened 5 new theaters in main cities together with Washington, D.C., and Chicago.

“We’re so thrilled to be reopening theaters throughout the nation and welcoming again audiences for an unparalleled moviegoing expertise with movies we have been eagerly awaiting for over a 12 months now,” mentioned Alamo Drafthouse CEO Shelli Taylor on the time. “It is extremely thrilling to be again on that path so we will convey the Alamo Drafthouse expertise to new areas across the nation.”

Based on Deadspin, the top-performing areas final 12 months have been situated in Brooklyn (New York), Downtown L.A. (California), Springfield (Missouri), Manhattan (New York), Raleigh (North Carolina), and Austin (Texas).

Alamo at present has 41 theaters throughout 13 U.S. states.

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Alamo Drafthouse introduced in $134 million final 12 months on the field workplace, a 25% improve from the identical time the 12 months prior.

Neither supply specified how a lot the chain is in search of for a sale. Up to now, there haven’t but been any public bidders.

Alamo Drafthouse didn’t instantly reply to Entrepreneur’s request for remark.

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