Nostalgic movie show chain, Alamo Drafthouse, is reportedly purchasing for a buyer.
Based on Variety citing two anonymous sources, the Texas-based chain has approached “several Hollywood studios” to possibly purchase the corporate.
Alamo Drafthouse is popular amongst moviegoers for being one in all the primary chains to supply in-theater dining while watching a movie, offering local draft beers, craft cocktails, and an in depth food menu.
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The corporate filed for Chapter 11 bankruptcy protection amid the pandemic in March 2021 but emerged later that yr in June 2021 after being sold to Altamont Capital Partners.
Though the corporate shuttered its Phoenix location and other “underperforming” venues throughout the pandemic, it has since opened five latest theaters in major cities including Washington, D.C., and Chicago.
“We’re so thrilled to be reopening theaters across the country and welcoming back audiences for an unparalleled moviegoing experience with movies we have been eagerly awaiting for over a yr now,” said Alamo Drafthouse CEO Shelli Taylor on the time. “It’s incredibly exciting to be back on that path so we are able to bring the Alamo Drafthouse experience to latest locations across the country.”
Based on Deadspin, the top-performing locations last yr were positioned in Brooklyn (Recent York), Downtown L.A. (California), Springfield (Missouri), Manhattan (Recent York), Raleigh (North Carolina), and Austin (Texas).
Alamo currently has 41 theaters across 13 U.S. states.
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Alamo Drafthouse brought in $134 million last yr on the box office, a 25% increase from the identical time the yr prior.
Neither source specified how much the chain is in search of for a sale. To this point, there haven’t yet been any public bidders.
Alamo Drafthouse didn’t immediately reply to Entrepreneur’s request for comment.