Studio Movie Grill Creditors Reach Bankruptcy Plan Settlement

Studio Movie Grill Holdings LLC reached an agreement with its unsecured creditors and lender Goldman Sachs on payout and other terms of its bankruptcy case, advancing the dine-in theater chain’s bid to reorganize.

After the agreement, an official committee representing landlords, vendors, and other unsecured creditors of Studio Movie Grill will support a revised Chapter 11 restructuring plan, the parties said during a telephonic hearing Tuesday in the U.S. Bankruptcy Court for the Northern District of Texas.

Under an amended plan, general unsecured creditors would be entitled to a $1 million cash recovery and a stake in proceeds from pending ...