Alamo Drafthouse Cinema
FILING ALERT: Alamo Drafthouse Files Chapter 11 in Delaware
Wed 03/03/2021 07:42 AM
Relevant Document:
Voluntary Petition
Alamo Drafthouse Cinemas Holdings, an Austin, Texas-based dine-in movie theater chain, filed for chapter 11 protection today in the Bankruptcy Court for the District of Delaware, along with various affiliates. The company reports $100 million to $500 million in both assets and liabilities. The debtors are represented by Young Conaway Stargatt & Taylor as counsel and Houlihan Lokey as investment banker. The case number is 21-10474. Continue reading for our First Day team's filing alert of the Alamo Drafthouse chapter 11 filing and Request a Trial for access to the linked documents and analysis as well as our coverage of all U.S. chapter 11 cases filed since 2012 with over $10 million in liabilities.
According to board resolutions attached to the petition, on Feb. 16, 2021, “in accordance with the terms of the Restructuring Support Agreement” entered into among Alamo Drafthouse, League Holding LLC, Thunderbird Brothers LLC, ACP Alamo Finance Inc., CF ALMO UST LLC and CF ALMO UB LLC, “it has been determined to pursue an in-court restructuring of the Company through a sale of the Company’s assets pursuant to section 363 of the Bankruptcy Code.” The resolutions also say that Alamo has entered into a DIP financing agreement with Fortress Credit Corp. as the DIP agent.
The debtors’ list of 30 largest unsecured creditors consists entirely of landlords and trade claimants, led by Summit Glory Property LLC with a $2.2 million landlord claim, 30 West Pershing LLC with a $2 million landlord claim, Albee Development LLC with a $1.5 million landlord claim and Neon with a $1.1 million trade claim.
Alamo’s equity is held as follows:
Reorg First Day will provide a full summary once the first day briefing is complete.
Voluntary Petition
Alamo Drafthouse Cinemas Holdings, an Austin, Texas-based dine-in movie theater chain, filed for chapter 11 protection today in the Bankruptcy Court for the District of Delaware, along with various affiliates. The company reports $100 million to $500 million in both assets and liabilities. The debtors are represented by Young Conaway Stargatt & Taylor as counsel and Houlihan Lokey as investment banker. The case number is 21-10474. Continue reading for our First Day team's filing alert of the Alamo Drafthouse chapter 11 filing and Request a Trial for access to the linked documents and analysis as well as our coverage of all U.S. chapter 11 cases filed since 2012 with over $10 million in liabilities.
According to board resolutions attached to the petition, on Feb. 16, 2021, “in accordance with the terms of the Restructuring Support Agreement” entered into among Alamo Drafthouse, League Holding LLC, Thunderbird Brothers LLC, ACP Alamo Finance Inc., CF ALMO UST LLC and CF ALMO UB LLC, “it has been determined to pursue an in-court restructuring of the Company through a sale of the Company’s assets pursuant to section 363 of the Bankruptcy Code.” The resolutions also say that Alamo has entered into a DIP financing agreement with Fortress Credit Corp. as the DIP agent.
The debtors’ list of 30 largest unsecured creditors consists entirely of landlords and trade claimants, led by Summit Glory Property LLC with a $2.2 million landlord claim, 30 West Pershing LLC with a $2 million landlord claim, Albee Development LLC with a $1.5 million landlord claim and Neon with a $1.1 million trade claim.
Alamo’s equity is held as follows:
Reorg First Day will provide a full summary once the first day briefing is complete.
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