Cinemaworld of Florida, the operator of Majestic and CW-branded theaters, filed for Chapter 11 safety — the most recent chain to go belly-up as streaming companies 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 property and liabilities, in keeping with the submitting final week in US Chapter Courtroom in Miami.
The chapter petition acknowledged that funds would stay for distribution to unsecured collectors after masking administrative bills.
The submitting contains the corporate’s flagship Majestic 11 theater in Vero Seaside, Fla., in addition to different CW-branded properties.
CW Theaters gives a few of the most reasonably priced first-run film tickets accessible, with grownup admission priced at $7 day-after-day for all showtimes.
Discounted $5 tickets can be found for navy 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.
Courtroom information present Cinemaworld is looking for to restructure its funds whereas protecting operations operating.
Chapter 11 permits corporations to proceed enterprise as they work out a reorganization plan — typically involving renegotiated leases, debt restructuring or asset gross sales. Any closing plan should win approval from each collectors and the court docket.
The corporate, headquartered in Vero Seaside, didn’t disclose the variety of theaters or workers affected in its preliminary submitting. Extra particulars are anticipated because the case strikes ahead.
Each morning, the NY POSTcast gives a deep dive into the headlines with the Publish’s signature mixture of politics, enterprise, popular culture, true crime and all the things in between. Subscribe right here!
Cinemaworld’s chapter comes as film theaters proceed to reel from post-pandemic fallout. Declining ticket gross sales, competitors from streaming platforms and altering client habits have battered chains each giant 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 greater than 50 areas earlier than rising from chapter in 2023.
CMX Cinemas and Cinemax Holdings USA have every filed twice in 5 years, most lately in 2025, with each corporations persevering with to function 28 areas whereas 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 results of the pandemic, streaming competitors, and altering viewers conduct.
Whereas Chapter 11 gives a path to survival, it doesn’t assure all areas will stay open. Closures, layoffs or asset gross sales might observe relying on how the restructuring unfolds.
