CMX Cinemas has filed for bankruptcy protection in its home state of Florida. Based in Miami, the company operates theaters in Alabama, Florida, Georgia, Illinois, Minnesota, North Carolina, Ohio, and Virginia.

According to a press release issued recently by the company (see full text below), CMX will use this opportunity to "seek to reduce its obligations, strengthen its balance sheet, and restructure its business while protecting its employees and emerging in a stronger and more viable long-term financial position to continue serving customers across the United States."

It anticipates emerging from this period during the first part of the third quarter of 2025. CMX promises that things will be "business as usual" and that it will operate without interruption. However, when Regal parent Cineworld Group filed for bankruptcy in 2022, it also promised that things would be "business as usual" and the company proceeded to close many locations afterward. It's completely reasonable to believe that at least some CMX locations will be impacted by this development.

Indeed, the company closed several locations after it filed for bankruptcy in 2020. It currently operates 27 locations in eight states (the press release mentions 28, but the CMX Plaza Cinema Cafe 12 in Orlando closed in March). Time will tell how many locations survive the year.

Theaters Affected

Alabama

• CMX Pinnacle 14 -- Gulf Shores
• CMX Hollywood 16 & IMAX -- Tuscaloosa

Florida

• CMX Countryside -- Clearwater
• CMX Daytona 12 -- Daytona Beach
• CMX CineBistro CityPlace Doral -- Doral
• CMX Lakeside Village 18 & IMAX -- Lakeland
• CMX Brickell Dine-In -- Miami
• CMX Dolphin 19 & IMAX -- Miami
• CMX Miami Lakes 17 -- Miami Lakes
• CMX CineBistro Coastland -- Naples
• CMX Downtown In The Gardens -- Palm Beach Gardens
• CMX CineBistro Siesta Key -- Sarasota
• CMX Tyrone 10 -- St. Petersburg
• CMX Fallschase -- Tallahassee
• CMX CineBistro at Hyde Park Village -- Tampa
• CMX Wellington -- Wellington
• CMX Grand 10 -- Winter Haven

Georgia

• CMX CineBistro Halcyon -- Alpharetta
• CMX CineBistro Peachtree Corners -- Peachtree Corners

Illinois

• CMX Old Orchard Luxury -- Skokie

Minnesota

• CMX Odyssey IMAX -- Burnsville
• CMX Chateau -- Rochester

North Carolina

• CMX CineBistro Waverly Place -- Cary

Ohio

• CMX CineBistro and CMX Liberty -- Liberty Township

Virginia

• CMX Village 14 -- Leesburg
• CMX CineBistro Tysons Galleria -- McLean
• CMX CineBistro Stony Point -- Richmond

Press Release

CMX Cinemas Commences Subchapter V Proceedings to Position Company for Long-Term Growth

Subchapter V restructuring process expected to significantly reduce debt and strengthen CMX Cinemas' balance sheet and liquidity position

Operations to continue without interruption

MIAMI, July 1, 2025 /PRNewswire/ -- Cinemex Holdings USA, Inc., and certain affiliates ("CMX"), an operator of premium cinemas across the U.S., today announced that it has commenced proceedings under Subchapter V in the United States Bankruptcy Court for the Southern District of Florida (the "Court"). As part of these Subchapter V proceedings, CMX, with the support of its secured lender, will seek to reduce its obligations, strengthen its balance sheet, and restructure its business while protecting its employees and emerging in a stronger and more viable long-term financial position to continue serving customers across the United States.

CMX expects to file a proposed plan of reorganization (the "Plan") with the Court in due course and to meet the necessary requirements to emerge from Subchapter V as expeditiously as possible. CMX currently anticipates emerging from Subchapter V during the first part of the third quarter of 2025 and is confident that a comprehensive financial restructuring is in the best interests of CMX, its stakeholders, and business partners overall. CMX looks forward to working with its creditors and stakeholders to advance efforts to restructure its balance sheet. As part of the restructuring process, CMX intends to evaluate its lease portfolio and engage in collaborative discussions with landlords to improve lease terms and better position CMX for long-term growth.

Subchapter V is a court-supervised streamlined process that provides a forum for the efficient reorganization of CMX's business and balance sheet. CMX will remain in possession and control of its assets. Existing management and the board of directors will remain in control of the business, and CMX's operations will continue without interruption.

BUSINESS AS USUAL

During the restructuring process, CMX expects to operate its business and cinemas without interruption. In conjunction with the Subchapter V filings, CMX has submitted certain customary "first-day" motions to obtain the necessary court authority to continue honoring commitments with business partners and operating in the ordinary course of business—without disruption to customers, vendors, suppliers, or employees, as much as practicable.

CMX intends to pay all vendors and suppliers in full and on normal terms for valid amounts owed for goods and services received during the Subchapter V process. In addition, CMX expects employees will continue to receive their usual wages and benefits without interruption. CMX's available cash reserves, along with cash generated by operations, are expected to provide sufficient liquidity to meet ongoing obligations—including post-petition payments to vendors and suppliers, as well as wages, salaries, and employee benefits.

CMX continues to welcome customers to its cinemas as usual, and this will not change during the Subchapter V proceedings. CMX expects to continue honoring the terms of all existing customer membership programs, including CMX Rewards and CMX Passport.

ADDITIONAL INFORMATION REGARDING THE RESTRUCTURING PROCESS

Additional information on the Subchapter V proceedings can be found at: https://omniagentsolutions.com/CMXCinemas

GlassRatner is providing financial advisory services, while Quinn Emanuel Urquhart & Sullivan, LLP, and Bast Amron LLP are serving as legal counsel.

About CMX

CMX Cinemas opened its first flagship dine-in theatre in April 2017 at Brickell City Centre in Miami, Florida, ushering in a new era of luxury moviegoing experiences. CMX offers state-of-the-art technology and luxurious reclining leather seats in select locations, enjoyed through a variety of experiences including:

• CMX CinéBistro – A luxury dine-in theatre concept with in-seat service featuring modern, rustic New-American cuisine prepared by classically trained chefs.
• CMX Cinemas – An upgraded traditional theater featuring classic concessions.
• CMX Stone Sports Bar – Featured in select theaters, enhancing CMX as a preferred entertainment destination.

CMX Cinemas is one of the largest movie theatre chains in the United States, with 28 locations, 311 screens, and around 1,400 employees.