Alamo Drafthouse Gets OK For $21M Sale To Creditors

Law360 (May 3, 2021, 2:37 PM EDT) -- A Delaware bankruptcy judge on Monday approved the sale of theater chain Alamo Drafthouse Cinemas' assets to a pair of investment firms for a combination of nearly $21 million in debt, claims coverage and Chapter 11 wind-down costs.

At a virtual hearing, Alamo counsel told U.S. Bankruptcy Judge Mary Walrath that all objections to the sale have either been resolved or are on their way to being resolved, while representatives of the company's unsecured creditors endorsed the sale as the best deal the company would be able to make.

Alamo, the nation's largest privately owned theater chain with 18 company-owned and...

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