(WGN) – For the second time in 5 years, Cinemex Holdings USA has filed for chapter.
The corporate, which owns the CMX Cinemas movie show chain, introduced the transfer earlier this month. Cinemex Holdings USA is now looking for to restructure its enterprise operations “with the assist of its secured lender,” in response to a launch.
“CMX at present anticipates rising from Subchapter V through the first a part of the third quarter of 2025 and is assured {that a} complete monetary restructuring is in the most effective pursuits of CMX, its stakeholders, and enterprise companions total,” reads the release.
The dine-in movie show chain has a complete of 28 places throughout eight states: Alabama, Florida, Georgia, Illinois, Minnesota, North Carolina, Ohio and Virginia.
Regardless of the submitting, CMX says it plans to function “enterprise as standard” at its places.
“CMX continues to welcome prospects to its cinemas as standard, and this is not going to change through the Subchapter V proceedings,” the discharge mentioned.
The corporate expects to emerge from chapter proceedings within the third quarter of the 2025 fiscal yr.
Cinemex Holdings USA, which itself is owned by the Mexican theater chain Cinemex, opened its first CMX Cinemas theater in america in Miami, Florida, in 2017. CMX at present employs round 1,400 individuals, in response to Cinemex’s estimates.
CMX Cinemas had additionally filed for chapter as soon as earlier than, in 2020 through the COVID-19 pandemic.