The Alamo Drafthouse is emerging from the brink of extinction. The popular theater chain had to file Chapter 11 bankruptcy earlier this year. But they have moved past that and are looking to expand. The company has officially announced plans to open five new locations over the course of the next year after having a very successful weekend financially.
Alamo Drafthouse officially announced the end of its Chapter 11 filing. Its sale to Altamont Capital Partners has been completed. This announcement comes as the Alamo Drafthouse had its biggest box office weekend since the pandemic began, including a big return of its Los Angeles location that saw sold out shows for all movies and showtimes for the entire Memorial Day weekend from Friday to Monday. Alamo Drafthouse CEO Shelli Taylor had this to say in a statement.
“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. 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.”
As for the new locations, five new Drafthouse locations will be coming to Manhattan, Staten Island and St. Louis, as well as two in Washington D.C. The much-anticipated Manhattan location in New York in the fall. The 14-screen theater in Lower Manhattan will also be the home of The Press Room, a brand-new museum, letterpress print shop, bar and event space. Founder and Executive Chairman Tim League had this to say about it.
“The Press Room will feature an astounding collection that will serve as a museum of film and advertising history. And with 14 screens, we will be able to support the important New York openings of a vast array of films. We’re so excited and can’t wait for New York movie lovers to see what we have in store for them at our Lower Manhattan theater. “
Though not nearly as big as titans of the industry such as AMC or Regal, Alamo Drafthouse had been growing its business steadily prior to the pandemic. With more than 30 locations to its name before theaters closed for much of last year, the Texas-based chain was a pioneer in the dine-in, enhanced theatrical experience that many movie theaters have since adopted.
Luckily, the box office is beginning to bounce back in a big way, paving the way for theaters to recover. A Quiet Place Part II recently had a massive opening weekend, the biggest for any movie since the industry effectively shut down in March of 2020. A huge slate of blockbusters, including F9, Black Widow, Snake Eyes and Space Jam: A New Legacy, among others, ensure that we will have a true summer movie season this year. For a full list of Alamo Drafthouse locations and reopening dates, head on over to Drafthouse.com.