Theater chain files Chapter 11

Alamo Drafthouse Cinemas Holdings, a Texasbased dinein theater chain, said Wednesday that it has filed for bankruptcy due to financial woes during the pandemic. The company plans to find a buyer during its Chapter 11 bankruptcy, which allows it to continue operating while its managers and advisers work on repaying creditors. Alamo Drafthouse listed assets and liabilities of as much as $500 million each.

The Austinbased company has more than 40 theaters nationwide, including a cinema in San Francisco’s Mission district, which has been temporarily closed.