Retailer decoration at home for bankruptcy cites lower tariffs and spending
Home decor retailer filed for bankruptcy, saying lower spending and increased tariffs are affecting the bottom line.
Scripps News
For the first time in five years, Cinemex Holdings USA, owner of CMX Cinemas, filed for Chapter 11 bankruptcy protection.
The decision was announced by Cinemex Holdings USA in a news release on Tuesday, July 1, saying the company is considering restructuring its operations.
The company is expected to emerge from bankruptcy in the third quarter of 2025, according to a news release.
“Currently, CMX is expected to emerge from Sub-Chapter V in the first part of the third quarter of 2025, and we are confident that a comprehensive financial restructuring will be in the overall interests of CMX, its stakeholders and business partners,” the release reads.
The company filed it in the US Bankruptcy Court for the Southern District of Florida, court records show.
“Normal business” at CMX Cinemas location
In a total of 28 locations in eight states, the Dine-in cinema chain said it is “normal business” at all locations.
“CMX continues to welcome customers to cinemas as usual, and this remains the same in the sub-chapter V procedure,” the release continued. “CMX expects employees to continue receiving normal wages and benefits without interruption.”
CMX Cinemas are located in Alabama, Florida, Georgia, Illinois, Minnesota, North Carolina, Ohio and Virginia.
CMX Cinema filed for bankruptcy amid the Covid-19 pandemic
This recent application comes when the owner of the CMX cinema filed for Chapter 11 bankruptcy in April 2020 due to the Covid-19 pandemic. Fortunately, the company was able to succeed from bankruptcy protection in December of that year.
According to bankruptcy court documents, the company’s current listed assets range from $50 million to $100 million, with liabilities ranging from $1 million to $10 million.
Contribution: Samantha Neely/ Fort Myers News Press
Fernando Cervantes Jr. is a trending news reporter for USA Today. Contact him at fernando.cervantes @gannett.com and follow him at x @fern_cerv_.
