iPic Theaters Company Files for Bankruptcy Chapter 11 Protection – several media outlets have reported that iPic Entertainment which operates iPic Theaters around the country. The CEO claims that theaters will remain open and operational and that “business as usual”. With over $290 million in debt it could be a rough road out of debt. iPic had gone public less than two years ago, the stock is trading .61 cents, off ipo highs close to $15.
iPic estimates its total debts are $290.9 million and its total assets are $157 million
If you have any gift cards, now is probably a good time to hurry and use them.