ATLANTA - More than 150 workers at Midtown’s Colony Square are facing layoffs following the permanent closure of the IPIC luxury movie theater.
What we know:
While an exact final date for the Midtown location's operations remains unclear, a public notice filed by the company indicates that layoffs for 163 employees are scheduled to begin April 28.
The filing suggests a broad retreat for the brand, with several, if not all, IPIC locations nationwide expected to close their doors.
The Florida-based chain filed a voluntary petition for relief under Chapter 11 of the United States Bankruptcy Code on Wednesday, according to an administrative services provider for bankruptcy cases.
Despite the looming shutdown, the theater remains open for now, and moviegoers can still catch a film until the facility officially ceases operating.
The Midtown spot is known for its premium amenities with dine-in service and reclining lounge chairs, but it is now one of many closing due to the parent company's financial restructuring.
What we don't know:
It was not immediately clear what the specific date the theater will close is.
FOX 5 has reached out to IPIC for more details.
The Source: Information in this report comes from a Georgia WARN notice and Stretto.