IPIC Theaters LLC (Boca Raton, Fla.) announced it has entered Chapter 11 Bankruptcy and is looking to find a new owner. Founded in 2010, IPIC describes itself as “a pioneer of the premium dine-in theater and restaurant concepts, offering guests high-quality, chef-driven culinary and mixology offerings in architecturally unique destinations.”
“After exploring a range of possible alternatives, we concluded that a court-supervised sale of assets is in the best interest of the company and its stakeholders,” CEO Patrick Quinn said in a news release. “We are committed to continuing our business operations with minimal impact throughout the process and will endeavor to serve our customers with the high standard of care they have come to expect from us.”
The company said it will continue to operate and conduct business pending a process to maximize value to all creditors. However, IPIC also said it issued federal WARN Act notices to all its employees, which means it cannot guarantee employment beyond a 60-day notice period…