Movie Theater Chain iPic Files for Bankruptcy

by MarvelsGrantMan136

7 Comments

  1. TheBatemanFlex on

    Good. Holy shit their service is awful, food and drinks are terrible and a bazillion dollars plus service charge plus tax, and quality of their equipment (video and sound) sucks.

    Basically just purchase space in a popular and expensive shopping center, charge as much as you can while incurring as few costs as possible, save reclining seats. That was the entire business model.

  2. gamersecret2 on

    That is a bummer, but not shocking. iPic is a luxury chain, and luxury movie nights are the first thing people cut when money feels tight.

    Variety says they filed Chapter 11 and are trying to sell through the court process while keeping theaters open for now.

    Hollywood Reporter also points to weaker ticket sales and the whole shift in how people watch movies now.

    I just hope the good locations get bought and kept alive. A good theater night is still worth saving.

  3. RandomPersonBob on

    I used to live near one of these and preferred it over the other chains, it is a bit more upscale so you tend not to have kids or people on their phones…

  4. I went to the one is Austin Texas a couple of times. It was definitely expensive, but I enjoyed the personal service you get when you pushed your server button. The food wasn’t great, but the chairs were comfortable. Felt comparable to sitting in first class on an airplane. Also I liked the bar/lounge and pool tables they had out front as it was a nice atmosphere to hang before or after your movie. I can see why it went bankrupt though, could have been a more manageable concept.

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