Friday, July 17, 2009

Drafthouse Bankrupt?

Someone posted this yesterday...thought everyone would want to know. Thanks Poster.

The Arlington Cinema ‘N’ Drafthouse has filed for bankruptcy reorganization, seven months after pulling the plug on an expansion.

Arlington Cinema Inc. listed assets of less than $100,000 and debt between $1 million and $10 million, according to a voluntary Chapter 11 filing. The filing says it has fewer than 50 creditors. Its biggest debt, listed as disputed, is $5 million owed to Wheaton Plaza and Westfield LLC, its landlord at its failed second location in Wheaton.

Arlington Cinema opened Montgomery Cinema ‘N’ Drafthouse in October 2008. It closed the theater and restaurant in mid-December, citing excessive costs and the time-consuming county permitting process. It also said Westfield would not pay the remaining balance on the project’s construction allowance.

Owner Greg Godbout bought the original Arlington Cinema ‘N’ Drafthouse on Columbia Pike in 2005.

It has expanded from second-run movies and beer, adding a restaurant as well as live music and entertainment. It opened in 1985 in the former Arlington Theater.


Anonymous said...

Don't let the door hit you on the way out!

The worst food.

The worst service.

The worst.

Anonymous said...

I used to like the drafthouse before it got new owners. It was a dive but you were able to see a movie and have a drink. They aren't focused on movies any longer, they have comedy shows on Saturdays which is when I'd usually go there.

Plus, you are lucky if the movie even starts on time. At first I thought it was new owner kinks, then it just became apparent they didn't care if they started on time or not. This was one of thhe biggest reasons I stopped going there.

Anonymous said...

Hm. The service and food are certainly bad but it does bring people to the neighborhood. I just hope a decent business moves in.

Anonymous said...

it was a smoke filled experience. if they banned smoking then they would of had a fighting chance. they were doomed as long as kept the smoking section.