CMX Cinemas opened its flagship dine-in theatre in Miami in 2017. The brand quickly expanded to seven other states with 28 locations. CMX boasts a luxury movie experience where guests can enjoy the show and a delicious meal at the same time. While the concept was a hit with many, CMX Cinemas still struggled to maintain profitability. The brand announced that it has begun bankruptcy proceedings in Florida. The CMX did not release specifics, but Bloomberg News estimates that the company has assets of $100,001 to $500,000, with estimated liabilities of less than $50,000.
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CMX Cinemas Intends To Keep “Business As Usual”
According to the release, CMX does not intend to close theaters or change the CMX Cinemas experience.
“During the restructuring process, CMX expects to operate its business and cinemas without interruption. In conjunction with the Subchapter V filings, CMX has submitted certain customary ‘first-day’ motions to obtain the necessary court authority to continue honoring commitments with business partners and operating in the ordinary course of business—without disruption to customers, vendors, suppliers, or employees, as much as practicable,” according to the release.
CMX Cinemas remains active on social media and is currently participating in a 12 Days of Giving contest on Instagram, aiming to promote the theatre and attract customers.
“We’re celebrating an amazing summer of movies at CMX with 12 days of giveaways that you don’t want to miss,” the post explains. Each day we’ll reveal a new prize, so stay tuned and keep participating for more chances to win! Winners will be selected the following day.”
But there is one catch, you must live near a CMX Cinema.
“Must be a local resident to enter (within 50 miles of a CMX Cinemas location. Please note that this competition is in no way affiliated with any other account. Please report and block any other accounts that contact you in relation to this post or any other giveaways,” per Instagram.
This story’s featured image is by Aaron Davidson/Getty Images for CMX Cinemas.
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