unknown pleasures Posted March 3, 2021 Share Posted March 3, 2021 LINK Wasn't expecting this news today, wonder if it will have any repercussions for the Mondo label? Alamo Drafthouse Files for Chapter 11 Courtesy of Heather Kennedy The theater chain announced a deal to sell its assets to Altamont Capital and Fortress Investment Group as part of the bankruptcy filing. Alamo Drafthouse, the independent theater chain known for its thematic screenings, fan-focused atmosphere and in-cinema food and drink options, is filing for Chapter 11 bankruptcy protection, according to a filing in Delaware Bankuptcy Court. Quote Link to comment Share on other sites More sharing options...
timsimmons Posted March 3, 2021 Share Posted March 3, 2021 I would think they would be able to spin off Mondo as its own entity. Quote Link to comment Share on other sites More sharing options...
unknown pleasures Posted March 3, 2021 Author Share Posted March 3, 2021 7 minutes ago, timsimmons said: I would think they would be able to spin off Mondo as its own entity. Maybe. I’m guessing Mondo was one of the more valuable assets (since I can only assume a business with $40 LPs and $60 posters makes money) so I’m thinking the two investment firms that stepped in are very interested in that part of the business. Quote Link to comment Share on other sites More sharing options...
hookups96 Posted March 3, 2021 Share Posted March 3, 2021 I’ve been with a company that Altamont Capital came in and bought for cheap. Cut the fat (non profitable location) and bought out some board seats to retire and turned it around. Then sold the company again for a profit. I do t think either division will close. Maybe if a theater was non profitable prior to the pandemic, but that would be it. I know the one by me that I’ve been going to for years was always sold out. So it should be safe. Quote Link to comment Share on other sites More sharing options...
One Hundred Fifty-Two Posted March 3, 2021 Share Posted March 3, 2021 16 minutes ago, hookups96 said: I’ve been with a company that Altamont Capital came in and bought for cheap. Cut the fat (non profitable location) and bought out some board seats to retire and turned it around. Then sold the company again for a profit. I do t think either division will close. Maybe if a theater was non profitable prior to the pandemic, but that would be it. I know the one by me that I’ve been going to for years was always sold out. So it should be safe. Thanks for the insight Quote Link to comment Share on other sites More sharing options...
dantheriver Posted March 3, 2021 Share Posted March 3, 2021 https://www.slashfilm.com/alamo-drafthouse-bankruptcy/ more here. As others stated, this doesn’t mean Alamo/Mondo will disappear, just a restructuring with some theater locations closing. Quote Link to comment Share on other sites More sharing options...
radiatorhums Posted March 3, 2021 Share Posted March 3, 2021 Don't care much about the Mondo portion of things, but I always loved seeing movies Alamo Draft House. One of the few theater chains that offered a good experience. Multiverse 1 Quote Link to comment Share on other sites More sharing options...
rrd Posted March 3, 2021 Share Posted March 3, 2021 fun place to go to, shitty place to work (i worked there for 10 years before being unceremoniously laid off, pre pandemic) google "Alamo drafthouse employee abuse" if you want to feel less sad about it Quote Link to comment Share on other sites More sharing options...
Prestonlanes Posted March 3, 2021 Share Posted March 3, 2021 I love the Drafthouse and was eagerly awaiting there Manhattan location opening (but I doubt that will happen now). My brother was the *sole* maintenance guy for all of the Austin theaters (and their multiple off-shoots) for years and can back up the fact that they took complete advantage of him. Quote Link to comment Share on other sites More sharing options...
timsimmons Posted March 3, 2021 Share Posted March 3, 2021 I just worry because when a PE group comes in to overhaul, the culture usually changes. And the culture at Alamo seems to be toxic, so thats a great thing, but Mondo is a separate thing. I'd hate for some of the people behind the scenes to want to peace out and it become a shadow of its former self. Quote Link to comment Share on other sites More sharing options...
marc32137 Posted March 3, 2021 Share Posted March 3, 2021 News reports I read say they've scrapped the Orlando location, which breaks my heart. Quote Link to comment Share on other sites More sharing options...
stl_ben Posted March 3, 2021 Share Posted March 3, 2021 25 minutes ago, timsimmons said: I just worry because when a PE group comes in to overhaul, the culture usually changes. And the culture at Alamo seems to be toxic, so thats a great thing, but Mondo is a separate thing. I'd hate for some of the people behind the scenes to want to peace out and it become a shadow of its former self. Mondo operational heads have almost all left over the last five years. I would say the admirative staff is already a shadow of what it was. timsimmons 1 Quote Link to comment Share on other sites More sharing options...
timsimmons Posted March 3, 2021 Share Posted March 3, 2021 Good to know. Quote Link to comment Share on other sites More sharing options...
kylet Posted March 3, 2021 Share Posted March 3, 2021 I never knew Alamo Drafthouse and Mondo were connected. I've listen to a weekly horror podcast for the past decade or so and all the guys on there have great things to say about it. Unfortunately there aren't any in my area so I've never been. Also a bummer to hear they treat their employees like dog shit. That's not cool. Quote Link to comment Share on other sites More sharing options...
[Banned User] Posted March 3, 2021 Share Posted March 3, 2021 It’s all those flippity flippers faults!!!!1! Quote Link to comment Share on other sites More sharing options...
andrewlucas Posted March 4, 2021 Share Posted March 4, 2021 Lots of companies file for bankruptcy at one point or another. It’s just a minor inconvenience for now. I wouldn’t be too worried about it affecting much. Quote Link to comment Share on other sites More sharing options...
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