After facing plenty of doom and gloom over the course of the pandemic, beloved theater chain Alamo Drafthouse has emerged from Chapter 11 bankruptcy. Not stopping there, the burgeoning movie exhibitor is planning to rebound even stronger than before the world had ever heard of Covid.
The initial bankruptcy filing was announced in March. Now, just shy of three months later, Alamo Drafthouse has completed its sale to Altamont Capital Partners, funds managed by affiliates of Fortress Investment Group LLC and Alamo Drafthouse founder Tim League.
The centerpiece of its quick turnaround is to open five new locations: Manhattan, Staten Island, St. Louis and two in Washington D.C. The locations will launch beginning in late 2021, continuing into 2022.
“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,” said CEO Shelli Taylor in a statement. “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.”
The Manhattan location is slated to be the first to open its doors. Located in the Financial District, the 14-screen venue will feature a Press Room, museum, letter press print shop, a bar and event space. Alamo Drafthouse has long wanted to get its Manhattan venue open for business, with the pandemic derailing plans. Now, the ritzy location is shaping up to be one of Alamo’s crown jewels.
“The Press Room will feature an astounding collection that will serve as a museum of film and advertising history,” says League, the company’s executive chairman. “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.”
For a sneak peak inside the glamourous Manhattan location at 28 Liberty Street, check out the below video.