GRAND RAPIDS, MI (WLFI) — In a statement, the owners of Greater Lafayette's three movie theaters said they are confident business will continue and doors will stay open. This comes after Goodrich Quality Theaters filed for bankruptcy last week.
Director of Marketing Kelly Nash said up until this point, the company has explored several alternatives to keep business going.
"We ultimately determined that a court-supervised reorganization process and the stability and process it brings will put us in the best position to do what is in the best interests of our community that has supported us for so many years, as well as our various
stakeholders," the company said in the statement.
GQT owns nearly 30 theaters throughout the Midwest and one in Florida. Nine of those theaters are in Indiana, with three, Eastside 10 IMAX, Lafayette 7 and Wabash Landing 9 located in Greater Lafayette.
The Michigan-based company filed for Chapter 11 bankruptcy after falling nearly $33-million in debt.