Chicagoland movie theatre chain files for bankruptcy

SKOKIE, Ill. — For the second time in five years, Cinemax Holdings USA has filed for bankruptcy.

Bloomberg News reports the owner of CMX Cinemas movie theaters has assets that estimate between $100,001 to $500,000 with less than $50,000 in estimated liabilities, according to filings.

The dine-in movie theater chain has a total of 28 locations, including the CMX Old Orchard Luxury

in Skokie, Illinois. It is one of the largest theater chains in the United States with around 1,400 employees.

According to a release, CMX expects to still operate its business and cinemas without interruption and its employees will continue to receive their usual wages and benefits.

CMX Cinemas filed for bankruptcy once before in 2020, during the COVID-19 pandemic.