#1 out of 16
business28m ago
Movie Theater Chain iPic Files for Bankruptcy
Variety.com and 1 more
- iPic Theaters filed for bankruptcy protection again, pursuing a court-supervised sale of assets in Florida.
- Declining ticket sales and shifts in consumer viewing helped drive the bankruptcy filing, THR notes.
- iPic plans a court-supervised asset sale while continuing operations during the process.
- iPic’s financials show assets up to $50 million and liabilities up to $10 million, with a net loss in 2025 near $20 million.
- The filing comes amid broader theater industry pressures, including competition from streaming and volatile box office.
- iPic operates 13 dine-in theaters across eight states and employs about 1,300 people.
- The case follows a 2019 Chapter 11 filing and a prior buyout by Alabama public retirement funds.
- The Hollywood Reporter and Variety both cover the development, highlighting industry context.
- iPic’s management emphasizes minimal customer impact during the bankruptcy process.
- Market observers see 2026 as pivotal for theater recovery, with big titles looming but inconsistent box office.
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