Alamo Drafthouse locations in Phoenix area files for bankruptcy
A sign for the Alamo Drafthouse Cinema
PHOENIX - The three Alamo Drafthouse movie theater locations in the Valley have filed for bankruptcy.
FOX 10 has obtained a statement from Craig Paschich with Paschich Alamo Holdings LLC, which owns the theaters. In the statement, Paschich said the theaters were forced to file for bankruptcy due to the impact of the COVID-19 shutdown.
"Our intention is to use this opportunity to reorganize our finances and plan for the road ahead," Paschich wrote, in the statement. "We hope that taking these steps will put us on track to open in the future."
The three Alamo Drafthouse theaters in the Valley are located in Chandler, Tempe, and Gilbert. The Tempe location opened in May 2018.
On Alamo Drafthouse's website, company officials did not detail its plans for reopening.
"We will remain closed until we have the safest possible movie-going experience for our guests and staff," read a brief statement.