Movie chain declares BANKRUPTCY after attempted auction

Due to the coronavirus pandemic, the year 2020 has been a financial disaster for the film industry, as several theaters have been closed or suffered from delays in the premiere of the headlines. And this wear will still bring some reflexes throughout 2021.

The Alamo Drafthouse movie chain has declared bankruptcy due to a lack of customers at its 40 units across the United States, primarily in Texas, where its headquarters are located.

An auction of the company’s assets was called off on Monday 26 because no company was interested in the purchase.

The rooms with the weakest monthly performances will be closed to make room for other investments.

In a statement, Shelli Taylor, president of the company, said:

“Alamo Drafthouse had one of its most successful years in 2019, when we launched our first office in Los Angeles, which guaranteed us a box office that surpassed any other channel in the industry.”

It should be remembered that several cinema chains in Los Angeles and New York have already opened their doors.

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With the reopening, this could be the light at the end of the tunnel for the film industry to begin to recover after more than a year of financial collapse due to the coronavirus pandemic.

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