Texas-based dine-in chain Alamo Drafthouse, one of the three North American chains to have filed for Chapter 11 bankruptcy over the course of the Covid-19 pandemic, has officially emerged from bankruptcy following the sale of the chain to Altamont Capital Partners, a private equity fund managed by Alamo Drafthouse founder Tim League and affiliates of Fortress Investment Group LLC.
“We’re so thrilled to be reopening theaters across the country and welcoming back audiences for an unparalleled moviegoing experience with films we’ve been eagerly awaiting for over a year now,” says Alamo Drafthouse CEO Shelli Taylor. “We’re so grateful to our incredible partners at Altamont and Fortress, who are completely aligned with our vision for Alamo Drafthouse’s growth. It’s incredibly exciting to be back on that path so we can bring the Alamo Drafthouse experience to new locations around the country, including our very first locations in Manhattan, St. Louis, and D.C.”
On the tails of Alamo officially emerging from bankruptcy, the chain has announced that it will open five new locations throughout 2021 and into 2022. One of those, Alamo’s long-awaited first foray into Manhattan, is now expected to open in Fall 2021; elsewhere in New York, an Alamo location in Staten Island is still in development. Alamo’s 14-screen Manhattan location, located in the Financial District, will be paired with “The Press Room,” a museum/bar/event space featuring “an astounding collection that will serve as a museum of film and advertising history,” says Alamo Founder and Executive Chairman Tim League.
Alamo has also announced that they will be opening their first locations in St. Louis—a ten-screen location in the city’s upcoming City Foundry STL development—and Washington, DC., where Alamo is collaborating with franchise partners Cojeaux Cinemas, LLC on two new cinemas. The St. Louis theater is expected to open in Spring 2022, while the two D.C. locations (one in National Landing, one in Arlington, Virginia) are slated for Winter 2021 and Spring 2022.
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