Ipic Entertainment: Sinks after filing for bankruptcy protection

iPic Entertainment

05/08/2019 13:06

** Shares of theater operator slide 40.1% to $1 premarket
after filing for Chapter 11 bankruptcy
    ** In talks with "numerous parties" to complete financial
restructuring
    ** Operations will be supported by debtor-in-possession
financing provided by the Retirement System of Alabama (RSA) and
restructuring process expected to conclude in 90-120 days, IPIC
says  urn:newsml:reuters.com:*:nPn1RzTRSa
    ** Co says theaters will remain open during restructuring
and employees, vendors and suppliers are being paid
    ** IPIC down 24% since July 26 when co said it had missed a
$10.1 mln interest payment due to RSA and may file for Chapter
11 bankruptcy
    ** IPIC down 47% YTD

 (Reporting by Uday Sampath in Bengaluru)
 ((UdaySampath.Kumar@thomsonreuters.com; within U.S.+1 646 223
8780; Twitter: @sampath_uday; Reuters Messaging:
UdaySampath.Kumar.thomsonreuters.com@reuters.net))