The Austin-based cinema chain announces that it has entered bankruptcy just hours after its defiant tweet about public health measures.
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2 min read
Austin-based dine-in chain Alamo Drafthouse had 12 hours. In response to Texas Governor Greg Abbott's announcement that "EVERYTHING" is "100% OPEN" in his state, the Alamo tweeted last night that it would continue to enforce social distancing, mask requirements and other mitigation measures at all locations. The statement went viral, which is good news for Alamo, which has taken a huge blow to its business due to pandemic-related closings and suffered poor PR after employees went public in frustration about vacation days.
To that end, Variety reported just this morning that the Alamo filed for Chapter 11 bankruptcy protection as part of a major asset shift with various investment partners and financiers. For each variety, Alamo will "close some underperforming locations and restructure its leasing obligations", otherwise operations will continue as normal, allowing for variations in state reopening guidelines.
See also: Alamo Drafthouse Beats Gold by Redefining the Cinema Experience
This viral tweet was not directly related to Abbott or his writing, but rather to the decision to literally underline that they "only" follow the directions of the CDC and medical experts and emphasize that "the health of our teams and guests remains our top priority of the company "has effectively underscored its position vis-à-vis the governor.
We'll keep you posted when the virtual war of words escalates.