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Studio Movie Grill Creditors Reach Bankruptcy Plan Settlement

Feb. 9, 2021, 6:41 PM

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 ...

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