Studio Movie Grill, the 11th largest exhibitor in the US, has filed for Chapter 11 Bankruptcy protection, in an attempt to accelerate ongoing negotiations with its creditors on debt obligations and with its landlords and operating expenses. Dallas-based SMG specializes in providing a premium, in-theater dining experience. Currently, 21 of its 33 locations across the US are open and operating under capacity limitations. Prior to the COVID shutdowns, SMG had been operating profitably and growing, using a $75M investment it received in 2019 to expand to new locations. Chairman and Founder Brian Schultz said in a letter posted on the company’s website, “We plan to use this filing to strengthen our business by reducing liabilities and reposition SMG to emerge a stronger organization built for the future as we recover from the unparalleled impact of COVID-19.”
Read More at Dallas News
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Information For Professionals In Exhibition, Film And Entertainment
