IPIC Theaters, LLC Announces Plans to Pursue Sale

BOCA RATON, Fla., Feb. 26, 2026 /PRNewswire/ -- IPIC Theaters, LLC ("IPIC®" or "Company"), America's premier luxury dine-in theater and restaurant brand, announced plans to pursue a sale of assets through voluntary Chapter 11 reorganization under the US Bankruptcy Code in the Southern District of Florida ("Court") where it will seek approval of said sale. The Company announced that it will continue to operate and conduct business pending a process to maximize value to all creditors. 

In connection with the filing, the Company issued WARN notices to all employees. As part of this process, IPIC cannot guarantee employment beyond the notice period.

"After exploring a range of possible alternatives, the Company concluded that a court-supervised sale of assets is in the best interest of the Company and its stakeholders," said Patrick Quinn, Chief Executive Officer.  "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 anticipates sufficient liquidity to operate the business during an expedited sale process and the formulation of its plan of reorganization.  "We believe this process is the best path forward for the Company to continue to be an industry leader in the luxury dine-in theater and restaurant business.  We are committed to making this a seamless process for all of our stakeholders," said Quinn.

To ensure that day-to-day operations continue uninterrupted, current management will remain in place to work alongside the Company's restructuring advisors. The Company has filed "first day" motions seeking approval from the Court that the Company can honor its commitment to employees, guests, and partners. 

Court filings and other information related to the reorganization are available at, https://cases.stretto.com/IPICTheaters/, or by calling 562-684-1704 (toll free in North America).

About IPIC
The IPIC® Theaters' portfolio is comprised of four dine-in theater and restaurant brands, including IPIC, City Perch, The Tuck Room and Serena Pastificio. Founded in 2010, IPIC is 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. IPIC Theaters currently operates 8 restaurant locations and 13 dine-in theater locations with 100 screens in California, Florida, Georgia, Maryland, New Jersey, New York, Texas, and Washington.

For more information, visit IPIC.com.

Forward-Looking Statements
This press release contains forward-looking statements, including the statements that the Company will continue to operate and conduct business as usual pending a process to sell all or parts of the Company via a court supervised sale process.  These statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statement(s), including but not limited to such factors as the company's ability to control costs; the Company's ability to generate the expected cash flows from operations; and the timing and other issues relating to the court processes and required court approvals. 

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SOURCE IPIC Theaters