US movie theatre chain and FEC operator, Frank Theatres has filed for bankruptcy.
The company, based in Jupiter, Florida, filed for Chapter 11 bankruptcy protection under four entities: Frank Entertainment Companies, Frank Theatres Management, Frank Investments and the Rio Mall shopping centre in Rio Grande, New Jersey. All filings were based in the US Bankruptcy Court in the Southern District of Florida and made between June and September.
At one time, Frank Theatres owned and operated 25 theatres across seven US states and claimed to be in the process of building 25 other Frank Theatres Cinebowl and Grille entertainment complexes along the East coast.
The chain is the latest casualty in the global drop in cinema ticket revenues and the general retail slow down.
