Alama Drafthouse files for bankruptcy, will sell its assets to Altamont Capital and Fortress: CNBC

Texas-based cinema chain Alamo Drafthouse has filed for Chapter 11 bankruptcy and will sell its assets to Altamont Capital Partners and Fortress Investment Group reported CNBC.

Texas-based cinema chain Alamo Drafthouse has filed for Chapter 11 bankruptcy and will sell its assets to Altamont Capital Partners and Fortress Investment Group reported CNBC. No financial terms were disclosed. The news outlet noted that Alamo will continue its operations but will close down a few underperforming locations and restructure its lease payments as part of the bankruptcy.

Source: CNBC