Overland Park-based Dickinson Theatres files for bankruptcy - KCTV5
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A movie theater chain based in the metro has filed for bankruptcy.
Dickinson Theatres filed for Chapter 11 bankruptcy which gets rid of half of their debt. The chain is based in Overland Park and operates 18 theaters in seven states. This is the theater chain's second bankruptcy filing. The first was in 2000.
KCTV5's reporting partner, The Kansas City Star, said the company filed for court protection Friday in Kansas City, KS, and listed assets of about $2.2 million and debt of more than $7.6 million.
As part of its re-organization plan, Dickinson plans to close the Blue Springs 8 Theatre.
Ron Horton, president of the theater chain, said the move is unfortunate, but necessary. He said there should be no jobs lost.
"Hopefully, it will make us a stronger, cleaner company," Horton said.
Dickinson Theatres has about 700 employees across the country, and it is one of the oldest chains that is family-owned and operated.
Copyright 2012 KCTV (Meredith Corp.) All rights reserved.
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