What Alamo Drafthouse’s Bankruptcy Means for El Paso Locations
This morning the news broke that the Alamo Drafthouse company had voluntarily filed for Chapter 11 bankruptcy. According to Austin 360, the company cited ongoing issues due to the coronavirus pandemic that was negatively affecting the business. Along with the bankruptcy announcement, Alamo also announced they would be entering into a purchase agreement for the sale of their assets.
According to Austin360, it's already been announced that some Alamo locations would be closing down. That includes Alamo Drafthouse Ritz in downtown Austin, New Braunsfels, and the Kansas City, Missouri location.
But what does that mean for the local Alamo Drafthouse location on the westside and the eastside location that has yet to even open their doors?
According to an Alamo Drafthouse employee, Alamo fans can breathe a sigh of relief. The El Paso locations are independently owned and operated under Triple Tap Ventures and they are currently doing well. The East El Paso Alamo location is still on schedule to open on March 31st. Other Triple Tap Ventures-owned Alamo locations include Houston and Lubbock and they will also not be impacted.
This is a great reminder though that our local movie theaters need help to make sure they stay open. You can rent a private movie theater, order food to go, or even just sharing their posts on your social media can help. There are plenty of different things you can do with your privately rented movie theater including watching MMA fights, home movies, host a trivia night with your friends, and more. You can read more of Alamo's statement on the Austin 360 website.