CMX Cinemas Files Chapter 11 Bankruptcy for Second Time in Five Years

Cinemex Holdings USA, owner of CMX Cinemas, has filed for Chapter 11 bankruptcy protection for the second time in five years, aiming to restructure its business and reduce debt while continuing operations. The company operates 28 locations across eight states, including luxury dine-in theaters, and expects to continue normal operations without interrupting employee wages and benefits during the restructuring process. Despite discrepancies in reported asset and liability values across sources, the filings reveal financial difficulties exacerbated by industry-wide challenges such as the rise of streaming, the COVID-19 pandemic, and declining movie theater attendance. CMX anticipates emerging from bankruptcy in the third quarter of 2025, with support from secured lenders to strengthen its balance sheet and ensure long-term viability. The theater industry overall has faced significant contraction, with major chains closing numerous venues and investing billions in upgrades to attract customers. CMX’s parent company, Grupo Cinemex, one of Mexico's largest movie chains, entered the U.S. market in 2016 and has also undergone restructuring recently.