IPic auction splits theater locations, intellectual property assets
Bankruptcy auction advances sale process for Boca Raton theater operator.
Boca Raton, Florida-based luxury movie theater operator IPic Theaters identified separate buyers for portions of its business after completing a bankruptcy auction as the company pushes toward a court-approved sale amid mounting liquidity pressures.
Court filings show Miami-based Cinemex Holdings USA was designated as the successful bidder for IPic’s intellectual property assets, while Los Angeles-based Blue Fox Theaters was named the successful bidder for six theater locations following a May 8 auction, held as part of the company’s Chapter 11 proceedings.
The acquired theater locations include one in Houston’s River Oaks District and others in North Miami; Dallas; Austin; Atlanta; and Fort Lee, New Jersey.
IPic previously told the U.S. Bankruptcy Court for the Southern District of Florida that it needed to complete a sale by May 15 to preserve the going-concern value of its operations, as it faced ongoing cash constraints and employee departures tied to earlier announced layoffs.
Judge Erik P. Kimball approved bidding procedures for the sale process April 28, establishing a timeline that included the May 8 auction and a May 12 sale hearing.
The company initially disclosed plans to permanently close its corporate office in Boca Raton along with theaters in Delray Beach and North Miami Beach, affecting approximately 214 employees whose separation dates were listed as April 28 in WARN notices filed with the state.
Court records show IPic operated 13 leased theater locations across eight states at the time of its February bankruptcy filing and employed approximately 1,300 full- and part-time workers.
Before the auction, local dine-in theater chain Star Cinema Grill was selected as the stalking-horse bidder, according to court documents, and would have been named the purchaser for IPic assets if no better bids emerged. In January 2022, Star Cinema Grill inked lease agreements for two former IPic locations in the Chicago suburbs. In addition to those locations, Star Cinema Grill also has eight locations in Greater Houston and College Station. Its parent company, Sugar Land-based Culinary Khancepts, also operate the historic River Oaks Theatre, Reel Luxury Cinemas in The Woodlands and Hollywood Palms Cinema, Bar & Eatery in the Chicago suburbs as well as several restaurant concepts.
IPic’s sale process drew an objection from Paguro Holdings LLC FZ, which said it entered into a 2023 joint venture agreement with IPic tied to development of IPic-branded entertainment centers, cinemas and food-and-beverage venues in the United Kingdom, Middle East and North Africa.
Paguro stated the venture had already established an entity in the United Arab Emirates, secured a lease for an IPic-branded site, and started construction and build-out work.
The company argued the proposed sale could affect its rights to continue using the IPic brand internationally after Cinemex was designated as the successful bidder for the company’s intellectual property assets. Paguro later withdrew its objection without prejudice ahead of the sale hearing.
In bankruptcy schedules filed in March, IPic reported about $148.3 million in total assets and roughly $107.7 million in liabilities, including more than $100 million tied to lease obligations.
In its February bankruptcy petition, IPic reported gross income of approximately $112.5 million and a net loss of about $19.4 million in 2025.
Please rename theatre to Regal Cinebarre Mountlake and the address is 24240 Van Ry Blvd, Mountlake Terrace WA 98043
This theatre is operated by Regal Cinemas and add previous owners ACT III Theatres. This location is one of the rare locations by Regal that doesn’t offer Reserve Seating
Please fix link, it’s https://www.phoenixmovies.net/ You got the ohter Phoenix chain, their 2 phoenxi chains Phoenix Theatrea and Phoenix Entertainment
Please rename theatre to Cinépolis La Costa Town Square as per website
Please rename theatre to Cinépolis La Costa Paseo Real as per website and total seats 508
Please rename AMC Poway 10, the Dine In Feature was discontinued last winter and total seats 811
Seating Capacity:
Theatre 1, 7 and 8 72
Theatre 2, 3 and 4 70
Theatre 5 82
Theatre 6 73
Theatre 9 100
Theatre 10 130
Please rename theatre to Angelika Carmel Mountain as per Angelika website
Please update, total seats: 1,029
Please rename theatre to UltraStar CInemas Mission Valley San Diego as per website
Please update, total seats 714 and 11 screens
Please update, total seats 913
Please update, total seats 1,481, this theatre has AMC Club Rockers
Just the photo of the IMAX theatre, everything else looks correct
IPic auction splits theater locations, intellectual property assets Bankruptcy auction advances sale process for Boca Raton theater operator.
Boca Raton, Florida-based luxury movie theater operator IPic Theaters identified separate buyers for portions of its business after completing a bankruptcy auction as the company pushes toward a court-approved sale amid mounting liquidity pressures.
Court filings show Miami-based Cinemex Holdings USA was designated as the successful bidder for IPic’s intellectual property assets, while Los Angeles-based Blue Fox Theaters was named the successful bidder for six theater locations following a May 8 auction, held as part of the company’s Chapter 11 proceedings.
The acquired theater locations include one in Houston’s River Oaks District and others in North Miami; Dallas; Austin; Atlanta; and Fort Lee, New Jersey.
IPic previously told the U.S. Bankruptcy Court for the Southern District of Florida that it needed to complete a sale by May 15 to preserve the going-concern value of its operations, as it faced ongoing cash constraints and employee departures tied to earlier announced layoffs.
Judge Erik P. Kimball approved bidding procedures for the sale process April 28, establishing a timeline that included the May 8 auction and a May 12 sale hearing.
The company initially disclosed plans to permanently close its corporate office in Boca Raton along with theaters in Delray Beach and North Miami Beach, affecting approximately 214 employees whose separation dates were listed as April 28 in WARN notices filed with the state.
Court records show IPic operated 13 leased theater locations across eight states at the time of its February bankruptcy filing and employed approximately 1,300 full- and part-time workers.
Before the auction, local dine-in theater chain Star Cinema Grill was selected as the stalking-horse bidder, according to court documents, and would have been named the purchaser for IPic assets if no better bids emerged. In January 2022, Star Cinema Grill inked lease agreements for two former IPic locations in the Chicago suburbs. In addition to those locations, Star Cinema Grill also has eight locations in Greater Houston and College Station. Its parent company, Sugar Land-based Culinary Khancepts, also operate the historic River Oaks Theatre, Reel Luxury Cinemas in The Woodlands and Hollywood Palms Cinema, Bar & Eatery in the Chicago suburbs as well as several restaurant concepts.
IPic’s sale process drew an objection from Paguro Holdings LLC FZ, which said it entered into a 2023 joint venture agreement with IPic tied to development of IPic-branded entertainment centers, cinemas and food-and-beverage venues in the United Kingdom, Middle East and North Africa.
Paguro stated the venture had already established an entity in the United Arab Emirates, secured a lease for an IPic-branded site, and started construction and build-out work.
The company argued the proposed sale could affect its rights to continue using the IPic brand internationally after Cinemex was designated as the successful bidder for the company’s intellectual property assets. Paguro later withdrew its objection without prejudice ahead of the sale hearing.
In bankruptcy schedules filed in March, IPic reported about $148.3 million in total assets and roughly $107.7 million in liabilities, including more than $100 million tied to lease obligations.
In its February bankruptcy petition, IPic reported gross income of approximately $112.5 million and a net loss of about $19.4 million in 2025.
Please rename theatre to Regal Marysville as per website
Please rename Regal Everett as per Regal website.
Please rename theatre to Regal Cinebarre Mountlake and the address is 24240 Van Ry Blvd, Mountlake Terrace WA 98043
This theatre is operated by Regal Cinemas and add previous owners ACT III Theatres. This location is one of the rare locations by Regal that doesn’t offer Reserve Seating
Please rename theatre to Regal Tall Firs as per website
Please update, total seats 1,270 and it’s 11 screens
Please rename theatre to Cinemark Century Point Ruston and XD as per website and total seats 733
Please update, total seats 150 as per website rental page
Please rename theatre to Cinemark Reserve Lincoln Square — Dine-In 21+ as per website and total seats 551
Update theatre is OPEN
Please update, reopen on February 13, 2026 and new name is Tasvear Film Center and website is Https://filmcenter.tasveer.org/home
{;ease rename theatre to Regal Thornton Place and total seats 2873
Please update, total seats 372
Please rename theatre Historic Admiral Theater as per website
Please fix link, it’s https://www.phoenixmovies.net/ You got the ohter Phoenix chain, their 2 phoenxi chains Phoenix Theatrea and Phoenix Entertainment