Cinemaworld of Florida, the operator of Majestic and CW-branded theaters, filed for Chapter 11 protection — the latest chain to go belly-up as streaming services sap business.
The company, which does business as The Majestic 11 and CW Lanes & Games, operates movie theaters and entertainment venues across three states, including Florida.
Cinemaworld reported having between $10 million and $50 million in both assets and liabilities, according to the filing last week in US Bankruptcy Court in Miami.
A Florida-based movie theater chain has filed for Chapter 11 bankruptcy protection. CinemaWorld Theaters
The bankruptcy petition stated that funds would remain for distribution to unsecured creditors after covering administrative expenses.
The filing includes the company’s flagship Majestic 11 theater in Vero Beach, Fla., as well as other CW-branded properties.
CW Theaters offers some of the most affordable first-run movie tickets available, with adult admission priced at $7 every day for all