Alamo Drafthouse Sold to Lenders as Judge Approves Lone Bid

Dine-in movie theater chain Alamo Drafthouse won court approval to sell itself to lenders in a deal that keeps most of its locations open.

• U.S. Bankruptcy Judge Mary Walrath said she’d approve the sale in a Monday hearing
• The buyers -- lenders including Altamont Capital Partners and affiliates of Fortress Investment Group -- agreed to forgive about $60m of their debt holdings for the chain and assume certain liabilities
  • Alamo received no other actionable bids, its bankruptcy lawyer said in the hearing
  • The company entered bankruptcy with more than $100m of long-term debt outstanding
• “The sale preserves the debtors’ business ...