You can be on Entrepreneur’s cover!

A Cult-Favorite Theater Chain Is Reportedly Looking For a Buyer After Emerging From Bankruptcy Alamo Drafthouse Cinema currently has 41 theaters in 13 U.S. states — and more are on the way.

By Emily Rella

entrepreneur daily

Nostalgic movie theater chain, Alamo Drafthouse, is reportedly shopping for a buyer.

According to Variety citing two anonymous sources, the Texas-based chain has approached "several Hollywood studios" to possibly purchase the company.

Alamo Drafthouse is popular among moviegoers for being one of the first chains to offer in-theater dining while watching a movie, offering local draft beers, craft cocktails, and an extensive food menu.

Related: Report: Amazon Eyeing Purchase of AMC Theaters

The company filed for Chapter 11 bankruptcy protection amid the pandemic in March 2021 but emerged later that year in June 2021 after being sold to Altamont Capital Partners.

Though the company shuttered its Phoenix location and other "underperforming" venues during the pandemic, it has since opened five new theaters in major cities including Washington, D.C., and Chicago.

"We're so thrilled to be reopening theaters across the country and welcoming back audiences for an unparalleled moviegoing experience with films we've been eagerly awaiting for over a year now," said Alamo Drafthouse CEO Shelli Taylor at the time. "It's incredibly exciting to be back on that path so we can bring the Alamo Drafthouse experience to new locations around the country."

According to Deadspin, the top-performing locations last year were located in Brooklyn (New York), Downtown L.A. (California), Springfield (Missouri), Manhattan (New York), Raleigh (North Carolina), and Austin (Texas).

Alamo currently has 41 theaters across 13 U.S. states.

Related: Tesla Cleared to Build a Drive-In Movie Theater With All-Night Diner

Alamo Drafthouse brought in $134 million last year at the box office, a 25% increase from the same time the year prior.

Neither source specified how much the chain is seeking for a sale. So far, there have not yet been any public bidders.

Alamo Drafthouse did not immediately respond to Entrepreneur's request for comment.

Emily Rella

Entrepreneur Staff

Senior News Writer

Emily Rella is a Senior News Writer at Previously, she was an editor at Verizon Media. Her coverage spans features, business, lifestyle, tech, entertainment, and lifestyle. She is a 2015 graduate of Boston College and a Ridgefield, CT native. Find her on Twitter at @EmilyKRella.

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Editor's Pick

Resumes & Interviewing

Build a Better Resume with This $35 Subscription

AI Resume Builder promises to help you apply to jobs twice as fast.

Side Hustle

He Took His Side Hustle Full-Time After Being Laid Off From Meta in 2023 — Now He Earns About $200,000 a Year: 'Sweet, Sweet Irony'

When Scott Goodfriend moved from Los Angeles to New York City, he became "obsessed" with the city's culinary offerings — and saw a business opportunity.


I Got Over 225,000 Views in Just 3 Months With Short-Form Video — Here's Why It's the New Era of Marketing

Thanks to our new short-form video content strategy, we've amassed over 225,000 video views in just three months. Learn how to increase brand awareness through short-form video content.

Business News

Samsung Makes 6 Day Workweeks Mandatory for Executives as the Company Enters 'Emergency Mode'

Samsung said its performance "fell short of expectations" last year. Now executives are required to work weekends.


6 Habits That Help Successful People Maximize Their Time

There aren't enough hours in the day, but these tips will make them feel slightly more productive.


You Won't Have a Strong Leadership Presence Until You Master These 5 Attributes

If you are a poor leader internally, you will be a poor leader externally.