Luxury theater and dine-in chain iPic Theaters, owned by Alabama employee retirement funds, filed for bankruptcy for the second time.
Boca Raton, Fla.-based IPIC Theaters LLC, which filed Wednesday in the US Bankruptcy Court for the Southern District of Florida, plans to sell its assets.
The company has issued notices to its workers that they may be laid off, according to a Thursday press release. It expects to lay off 163 workers as of April 28 as part of plans to close its Atlanta locations.
“After exploring a range of possible alternatives, the Company concluded that a court-supervised sale of ...
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