ST. LOUIS — Dine-in cinema chain Alamo Drafthouse said Thursday it will open its planned location at the City Foundry development in spring 2022, under a new ownership model. No opening date was given previously.
The Austin, Texas, company said it restructured its deal at the Midtown mixed-use development, making it a franchise operation. St. Louis Alamo Movies LLC, led by John Martin and Marc Evans, also Alamo franchise owners in Springfield, Missouri, will operate the St. Louis location.
Alamo in March filed Chapter 11 bankruptcy. Though it announced plans to close three locations, it said it would still open in St. Louis. On Thursday, the company said it is reopening more than 15 previously closed locations, including in Brooklyn, Los Angeles and Dallas. In the March bankruptcy filing, the company said it was selling "substantially all of its assets" to a group including Altamont Capital Partners, affiliates of Fortress Investment Group LLC, founder Tim League and other investors, the Austin Business Journal reported.
"As we enter the final stages of closing on the sale of the company and concluding the Chapter 11b bankruptcy filing we made the choice to switch the Alamo at City Foundry to a franchise unit, dramatically accelerating the timetable for St. Louis to experience a whole new level of big screen entertainment," Chris Drazba, Alamo's vice president of franchise development, said in a statement.
The addition of a movie theater in the area would follow the closure last year of nearby Moolah Theatre and Lounge.
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