Alamo Drafthouse Ownership Deal Cleared as Bankruptcy Auction is Canceled

Alamo Drafthouse Ownership Deal Proceeds as Bankruptcy Auction Is Canceled
Movie theater chain, which arranged a bankruptcy equity deal with Altamont and Fortress, received no rival bids
Beatrice Verhoeven | April 26, 2021 @ 1:26 PM
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An auction for Alamo Drafthouse has been canceled after no additional bids were received to take control of the movie theater chain.
The cancelation means Fortress Investment Group and Altamont Capital, can move ahead to take control of the company that filed for bankruptcy on March 3. Alamo founder and executive chairman Tim League and other original investors are also among the minority partners. Fortress is a new investor in the company while Altamont was a pre-existing investor before the chain’s nationwide closure amid the COVID-19 pandemic.

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