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Bankrupt Alamo Drafthouse Goes With Stalking Horse Bid
Law360 (April 27, 2021, 4:59 PM EDT) Alamo Drafthouse Cinemas has told a Delaware bankruptcy court it is canceling its auction and going with its stalking horse credit bid led by creditors private equity firm Altamont Capital Management and investment manager Fortress Investment Group.
Austin, Texas-based Alamo said in the Monday filing in Delaware bankruptcy court it was canceling its auction that was previously scheduled for Wednesday and going with its stalking horse after it didn t get any additional bidders for the company in its Chapter 11 proceedings. No other qualifying bids were received prior to the bid deadline. Accordingly, pursuant to the bidding procedures order and bidding.