MOVIE THEATRES IN TROUBLE

Can a whole industry declare bankruptcy? Movie theatre companies are filing for court protection after building too many megaplexes in recent years. “Edwards Theatres said Wednesday it filed for Chapter 11. Carmike Cinemas did the same a few weeks ago, and Regal Cinemas, the nation’s biggest chain, gave notice it may not be far behind. Meanwhile, United Artists is trying to hash out a deal with its bankers and bondholders in lieu of an outright bankruptcy filing.” – Variety