Luxury dine-in movie theater chain iPic Entertainment is seeking Chapter 11 bankruptcy to restructure the company’s debt and either sell or reorganize the company, according to an Aug. 5 news release. "Delays in development cycle combined with the high cost of capital depleted iPic's available resources before the company was able to reach critical mass and become self-funded," CEO and founder Hamid Hashemi said in the release. During the restructuring, which could take 90 to 120 days, according to the release, operations will continue at its 16 locations, including the River Oaks District, 4444 Westheimer Rd, Houston. 832-709-2146.
www.ipic.com
