Capital 8 goes bankrupt

Tristyn Smith, Web Editor

Goodrich Quality Theaters, the owner of Jefferson City’s Capital 8 movie theater, has filed for Chapter 11 bankruptcy. Chapter 11 bankruptcy is the act of liquidating one’s assets and debts to essentially give the filer a fresh start.

The company owed nearly $33 million to various production and concession companies.

To pay for this, Goodrich will need to sell off several of its assets in order to recover.

This announcement came soon after announcing that it will no longer be employing minors, which was likely because of the company’s current financial situation.

Many sources believe that Jefferson City’s theater will remain in business, but it might come under new management. This could go on to change ticket and concession prices in the future.

There is still a long process ahead for Goodrich, with a creditors meeting scheduled in the near future. In this, various assets will be liquidated in order to pay off debts.

During this process, all of Goodrich’s theaters will remain open. Major changes likely won’t occur until a few months from now.

The future of Goodrich Quality Theaters is uncertain, but the closing of Jefferson City’s theater seems to be very unlikely at this point.