Alamo Drafthouse files for Chapter 11 bankruptcy

Alamo Drafthouse Cinema has filed for Chapter 11 bankruptcy as part of a plan to sell the company to senior lenders. The Austin-based dine-in theater chain will sell "substantially all of its assets" to a group that includes Altamont Capital Partners, affiliates of Fortress Investment Group LLC, founder Tim League and other initial investors, according to a March 3 announcement. The company was founded by Tim League and Karrie League in 1997 and has grown into a nation-spanning chain with 41 theaters,…