Date: 24th August 2000
Edwards Theatres has become the latest exhibitor chain to seek Chapter 11 bankruptcy protection. The 70-theater (735 screens) chain, based in Newport Beach, CA, has been particularly aggressive in building expensive megaplexes, including two giant complexes with 23 and 24 screens in Houston, TX.
It said Wednesday that it planned a major reorganization and debt restructure, including the shuttering of underproducing theaters. It shut down four of them Tuesday night…
Source: Studio Briefing