Cinemaworld of Florida, the operator of Majestic and CW-branded theaters, filed for Chapter 11 safety — the newest chain to go belly-up as streaming providers sap enterprise.
The corporate, which does enterprise as The Majestic 11 and CW Lanes & Video games, operates film theaters and leisure venues throughout three states, together with Florida.
Cinemaworld reported having between $10 million and $50 million in each belongings and liabilities, based on the submitting final week in US Chapter Court docket in Miami.
The chapter petition stated that funds would remain for distribution to unsecured collectors after overlaying administrative bills.
The submitting contains the corporate's flagship Majestic 11 theater in Vero Seashore, Fla., in addition to different CW-branded properties.
CW Theaters affords a few of the most reasonably priced first-run film tickets accessible, with grownup admission priced at $7 daily for all showtimes.
Discounted $5 tickets can be found for army members, veterans, hospital workers, first responders, seniors aged 55 and up, and kids 12 and below.
On Tremendous Tuesday, all customary tickets are simply $4 all through the day.
Court docket information present Cinemaworld is in search of to restructure its funds whereas retaining operations working.
Chapter 11 permits corporations to proceed enterprise as they work out a reorganization plan — usually involving renegotiated leases, debt restructuring or asset gross sales. Any last plan should win approval from each collectors and the courtroom.
The corporate, headquartered in Vero Seashore, didn't disclose the variety of theaters or workers affected in its preliminary submitting. Extra particulars are anticipated because the case strikes ahead.
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Cinemaworld's chapter comes as film theaters proceed to reel from post-pandemic fallout. Declining ticket gross sales, competitors from streaming platforms and altering shopper habits have battered chains each massive and small.
Since 2020, a number of main movie show chains have filed for chapter amid mounting monetary pressures following the COVID pandemic.
Cineworld, the proprietor of Regal Cinemas, filed in 2022 and closed more than 50 locations earlier than rising from chapter in 2023.
CMX Cinemas and Cinemax Holdings USA have each filed twice in 5 years, most not too long ago in 2025, with each corporations continuing to operate 28 locations while reorganizing.
Alamo Drafthouse, which filed in 2021, was acquired by Sony Photos in 2024, whereas Metropolitan Theatres Corp. filed for reorganization in early 2024.
Even chains like AMC Theatres, which has not filed, are grappling with heavy debt and shrinking revenues because the broader business continues to really feel the consequences of the pandemic, streaming competitors, and altering viewers conduct.
Whereas Chapter 11 affords a path to survival, it doesn't assure all areas will stay open. Closures, layoffs or asset gross sales might comply with relying on how the restructuring unfolds.
