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Alamo Drafthouse Takes Over Bankrupt Franchisee Theaters in Texas and Minnesota
Alamo Drafthouse is taking over the six franchisee locations that closed in June as a result of bankruptcy.
Those who are rehired will receive a more robust benefits plan with immediate eligibility, including access to daily pay, substantial 401k match, paid medical leave, accrued PTO, free mental health services. Alamo’s corporate ownership filed for Chapter 11 bankruptcy in early 2021 as theater chains were struggling to rebound from prolonged COVID-related closures and a lack of new product. It emerged in June of 2021 after completing a sale to Altamont Capital Partners, with funds managed by affiliates of Fortress Investment Group LLC and Alamo Drafthouse founder Tim League.
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