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Miami-based Theater Chain Files for Bankruptcy

Cinemex Holdings USA, Inc. and Cinemex USA Real Estate Holdings, Inc. filed for bankruptcy protection and reorganization under Chapter 11 of the U.S. Bankruptcy Code in Miami, where the companies are based. It is reportedly the first theater chain, or retailer, to file for Chapter 11 as a result of the COVID-19 pandemic.

The company indicated the filing will help ensure the long-term viability of its business, including its ability to protect employees. CMX Cinemas operated 41 locations, 417 screens and had 2,750 employees.

Cinemex said, “We are in a state of complete uncertainty as to when we can re-open our theaters and when our customers will feel safe and secure in returning to them, given that there is presently no vaccine against the virus. We cannot forecast when — if ever — customer numbers will return to pre-crisis levels.”

The company said the COVID-19 pandemic caused the theater chain to completely suspend its business, resulting in no revenue being generated, while its fixed costs remained high.


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About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.

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