Alamo Drafthouse has emerged from bankruptcy and is opening five new theaters, the chain announced Tuesday as the box office roars back to life.
“As the country moves forward following the unprecedented 2020 pandemic and moviegoers are returning to theaters, Alamo Drafthouse Cinema is excited to announce its continued emergence and growth with the announcement of five new theaters opening this year and next,” the company said
It closes out its bankruptcy with the completion of the sale to Altamont Capital Partners, funds managed by affiliates of Fortress Investment Group and Alamo Drafthouse founder Tim League. The news follows the circuit’s biggest box office weekend since the pandemic began, including a stellar return of the Los Angeles theater that saw sold out shows for all films and all showtimes for the entire holiday weekend from Friday to Monday.
Bankrupt Alamo Drafthouse Movie Chain Cancels Auction, Will Move Forward With Fortress Investment
“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,” said CEO Shelli Taylor.
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“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.”
The company’s highly anticipated first Manhattan location, Alamo Drafthouse Lower Manhattan, is a 14-screen theater in the Financial District at 28 Liberty, and is expected to open this fall. Alamo Drafthouse Lower Manhattan will be the home of The Press Room, a brand-new museum, letterpress print shop, bar, and event space.
A previously announced Staten Island theater is still in development with the Flying Guillotine, a martial arts-inspired bar in partnership with Wu-Tang Clan founder RZA.
Greater Washington, D.C. area
Alamo Drafthouse also announced two new locations from franchise partners Cojeaux Cinemas.
Alamo Drafthouse D.C., the company’s first theater to be located in D.C. proper, is a 9-screen theater located at Bryant Street in northeast Washington, D.C. and expected to open in winter, 2021.
Alamo Drafthouse National Landing is a 9-screen theater in the Crystal City neighborhood of Arlington, Virginia,with an opening planned in spring of 2022. Cojeaux Cinemas operates three other Alamo Drafthouse franchises in Virginia.
Alamo Drafthouse’s first theater in St. Louis is located at the upcoming City Foundry STL development in the city’s Midtown district, Alamo Drafthouse St. Louis is a 10-screen theater from franchise partner St. Louis Alamo Movies, expected to open in spring of 2022.
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