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
Phoenix Theatres to Launch Flagship Location at Patriot Place
Michigan-Based Company Making a Multi-Million Dollar Investment to Introduce First-Class Amenities, Including Heated Reclining Seats Featuring Dolby ATMOS Immersive Sound
December 10, 2025
Foxborough, Mass., December 10, 2025 – Patriot Place and Phoenix Theatres announced today that a new movie-going experience will be coming to the premiere shopping, dining and entertainment destination in the summer of 2026. Phoenix Theatres will bring first-run movies and first-class amenities to Patriot Place, including heated reclining love seats and Dolby ATMOS immersive sound in every auditorium.
The 25-year-old independently owned movie theatre company plans a multi-million dollar investment to refurbish the 14-screen theatre, creating a new premiere moviegoing experience in the greater Boston area. Renovation plans are being developed for the 75,347-square-foot building, which will feature all-new premium reclining heated seating, 4K laser digital projection, Dolby ATMOS immersive sound, first-run movies and family-friendly pricing.
The Patriot Place location marks the 93rd screen for Michigan-based Phoenix Theatres, which operates theatres in Michigan, Ohio, Iowa, Tennessee and Massachusetts. This is the second location in Massachusetts for Phoenix Theatres, which currently operates the Beacon Cinema in Pittsfield. Phoenix Theatres expects to welcome its first Patriot Place moviegoers in summer of 2026.
“There’s nothing quite like a night out at the movies, and we’re thrilled to team up with Phoenix Theatres to bring their premium theatre experience to Patriot Place,” said Brian Earley, Vice President and General Manager of Patriot Place. “Their multi-million-dollar investment will revitalize our theatre space with immersive sound, heated reclining seats, crystal-clear projection and more. We knew after our first meeting with the Phoenix team that they have an incredible commitment to creating an unforgettable moviegoing experience at family-friendly prices and we can’t wait to welcome our guests to enjoy the show next summer.”
Cory Jacobson, President of Phoenix Theatres, says the company was fortunate to be selected for the opportunity at Patriot Place and looks forward to bringing the brand’s own unique amenities to the greater New England region.
“Phoenix was originally formed with the idea of refurbishing closed theatres in viable retail areas and returning well-operated neighborhood theatres to their respective communities,” explained Jacobson. “We could not be more thrilled to be a part of the energy and excitement that surrounds Patriot Place. The exceptional mix of retail, dining, entertainment and hospitality makes Patriot Place a world class destination that deserves a world class theatrical experience. Having successfully operated a theatre in the Berkshires over the past 7 years, we are eager to bring our signature brand of quality presentation and amenities to the greater Boston Area.”
As a reflection of what residents can expect, the 4 ENCORE auditoriums will feature:
Every seat in every auditorium will be a large, fully reclining, heated loveseat with an adjustable middle armrest and ample legroom.
Every auditorium will feature Dolby ATMOS for a premium, immersive audio experience- a first of its kind in New England.
4K Christie digital laser projection.
Phoenix Theatres mobile app and online tickets that allow guests to reserve their seats at home or on the go.
Self-serve Pepsi beverage and butter stations for added service speed and customer convenience.
Family-friendly prices.
Jordan Hohman, Vice President of Project Development for Phoenix Theatres, shared that the company focuses on providing premium amenities along with the little details that large national theatre chains cannot provide at a local level. “We continuously strive to raise the standard of moviegoing with innovations that improve the customer experience. We were one of the first circuits in the United States to offer 100 percent heated reclining seats in every auditorium. Our goal is to deliver a premier moviegoing experience with cutting-edge projection and Dolby ATMOS sound complemented by comfortable luxurious amenities.”
Existing employees of the theatre and others who are interested in applying for a position can visit www.phoenixmovies.net to submit their application online.
Renovations will begin in January and Phoenix Theatres Patriot Place is planning to open its doors in summer of 2026.
Background:
Michigan-based Phoenix Theatres was founded in 2000 and has four Michigan theatres in Wayne, Monroe, Livonia and Grand Rapids. Four theatres are located out of state in Dubuque, Iowa, Pittsfield, Massachusetts and Defiance, Ohio. North Olmsted will mark the company’s 69th theatre screen and second location in Ohio.
please rename theatre to Phoenix Theatres Patriot Place opening July 1. Grand opening ad and photos from their facebook page of the construction in the photos section
Phoenix Theatres at Patriot Place is excited to announce our GRAND OPENING on Wednesday, July 1st, just in time for the release of MINIONS & MONSTERS!
Phoenix Theatres Patriot Place will feature Dolby ATMOS in its ENCORE auditoriums, creating a fully immersive three-dimensional sound environment that places audiences at the center of the action. ENCORE auditoriums will feature specialized acoustic treatments, immersive black-box design elements, and distraction-free environments designed to maximize picture quality and sound performance. Heated reclining loveseats, a signature feature of Phoenix Theatres, will be available in every seat in every auditorium.
Ticket Prices:
- $8 Matinee (Before 5 PM)
- $10 General Admission
- $7 Children & Seniors (All Day)
At Phoenix Theatres, showtime MEANS showtime! We are eliminating all commercial pre-show advertising at our Patriot Place location. Rather than filling the pre-show with commercials, guests will experience a carefully constructed transition into the film—featuring movie-themed soundtrack music curated from La-La Land Records collection, a limited selection of studio trailers, and a seamless progression into the feature presentation.
ENCORE will premiere Illumination’s “MINIONS & MONSTERS” as well as Steven Spielberg’s “DISCLOSURE DAY” and continue all summer long with blockbuster hits including:
🌊 MOANA
⚔️ Christopher Nolan’s THE ODYSSEY
🕷️ SPIDER-MAN: BRAND NEW DAY
Mark your calendars and get ready to #KickBackRelaxRecline at Phoenix Theatres at Patriot Place this summer!
Learn how you can win a year supply of movie tickets and follow the construction progress at http://phx.movie/PatriotPlace
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
Phoenix Theatres to Launch Flagship Location at Patriot Place Michigan-Based Company Making a Multi-Million Dollar Investment to Introduce First-Class Amenities, Including Heated Reclining Seats Featuring Dolby ATMOS Immersive Sound
December 10, 2025
Foxborough, Mass., December 10, 2025 – Patriot Place and Phoenix Theatres announced today that a new movie-going experience will be coming to the premiere shopping, dining and entertainment destination in the summer of 2026. Phoenix Theatres will bring first-run movies and first-class amenities to Patriot Place, including heated reclining love seats and Dolby ATMOS immersive sound in every auditorium.
The 25-year-old independently owned movie theatre company plans a multi-million dollar investment to refurbish the 14-screen theatre, creating a new premiere moviegoing experience in the greater Boston area. Renovation plans are being developed for the 75,347-square-foot building, which will feature all-new premium reclining heated seating, 4K laser digital projection, Dolby ATMOS immersive sound, first-run movies and family-friendly pricing.
The Patriot Place location marks the 93rd screen for Michigan-based Phoenix Theatres, which operates theatres in Michigan, Ohio, Iowa, Tennessee and Massachusetts. This is the second location in Massachusetts for Phoenix Theatres, which currently operates the Beacon Cinema in Pittsfield. Phoenix Theatres expects to welcome its first Patriot Place moviegoers in summer of 2026.
“There’s nothing quite like a night out at the movies, and we’re thrilled to team up with Phoenix Theatres to bring their premium theatre experience to Patriot Place,” said Brian Earley, Vice President and General Manager of Patriot Place. “Their multi-million-dollar investment will revitalize our theatre space with immersive sound, heated reclining seats, crystal-clear projection and more. We knew after our first meeting with the Phoenix team that they have an incredible commitment to creating an unforgettable moviegoing experience at family-friendly prices and we can’t wait to welcome our guests to enjoy the show next summer.”
Cory Jacobson, President of Phoenix Theatres, says the company was fortunate to be selected for the opportunity at Patriot Place and looks forward to bringing the brand’s own unique amenities to the greater New England region.
“Phoenix was originally formed with the idea of refurbishing closed theatres in viable retail areas and returning well-operated neighborhood theatres to their respective communities,” explained Jacobson. “We could not be more thrilled to be a part of the energy and excitement that surrounds Patriot Place. The exceptional mix of retail, dining, entertainment and hospitality makes Patriot Place a world class destination that deserves a world class theatrical experience. Having successfully operated a theatre in the Berkshires over the past 7 years, we are eager to bring our signature brand of quality presentation and amenities to the greater Boston Area.”
As a reflection of what residents can expect, the 4 ENCORE auditoriums will feature:
Every seat in every auditorium will be a large, fully reclining, heated loveseat with an adjustable middle armrest and ample legroom. Every auditorium will feature Dolby ATMOS for a premium, immersive audio experience- a first of its kind in New England. 4K Christie digital laser projection. Phoenix Theatres mobile app and online tickets that allow guests to reserve their seats at home or on the go. Self-serve Pepsi beverage and butter stations for added service speed and customer convenience. Family-friendly prices. Jordan Hohman, Vice President of Project Development for Phoenix Theatres, shared that the company focuses on providing premium amenities along with the little details that large national theatre chains cannot provide at a local level. “We continuously strive to raise the standard of moviegoing with innovations that improve the customer experience. We were one of the first circuits in the United States to offer 100 percent heated reclining seats in every auditorium. Our goal is to deliver a premier moviegoing experience with cutting-edge projection and Dolby ATMOS sound complemented by comfortable luxurious amenities.”
Existing employees of the theatre and others who are interested in applying for a position can visit www.phoenixmovies.net to submit their application online.
Renovations will begin in January and Phoenix Theatres Patriot Place is planning to open its doors in summer of 2026.
Background: Michigan-based Phoenix Theatres was founded in 2000 and has four Michigan theatres in Wayne, Monroe, Livonia and Grand Rapids. Four theatres are located out of state in Dubuque, Iowa, Pittsfield, Massachusetts and Defiance, Ohio. North Olmsted will mark the company’s 69th theatre screen and second location in Ohio.
Please update, theatre name is Regal The Landing
PLEASE UPDATE, theatre opened and remanme O'neil Cinmeas Londonderry and total seats 614 and 9 screens
Seating Capacity:
Theatre 1 48 with DBOX
Theatre 2, 3 and 4 67
Theatre 5 and 6 49
Theatre 7 50
Theatre 8 83 GrandX
Theatre 9 134 GrandX
Please rename theatre to Regal Independence Mall as per website
please rename theatre to Phoenix Theatres Patriot Place opening July 1. Grand opening ad and photos from their facebook page of the construction in the photos section
Phoenix Theatres at Patriot Place is excited to announce our GRAND OPENING on Wednesday, July 1st, just in time for the release of MINIONS & MONSTERS!
Phoenix Theatres Patriot Place will feature Dolby ATMOS in its ENCORE auditoriums, creating a fully immersive three-dimensional sound environment that places audiences at the center of the action. ENCORE auditoriums will feature specialized acoustic treatments, immersive black-box design elements, and distraction-free environments designed to maximize picture quality and sound performance. Heated reclining loveseats, a signature feature of Phoenix Theatres, will be available in every seat in every auditorium.
Ticket Prices: - $8 Matinee (Before 5 PM) - $10 General Admission - $7 Children & Seniors (All Day)
At Phoenix Theatres, showtime MEANS showtime! We are eliminating all commercial pre-show advertising at our Patriot Place location. Rather than filling the pre-show with commercials, guests will experience a carefully constructed transition into the film—featuring movie-themed soundtrack music curated from La-La Land Records collection, a limited selection of studio trailers, and a seamless progression into the feature presentation.
ENCORE will premiere Illumination’s “MINIONS & MONSTERS” as well as Steven Spielberg’s “DISCLOSURE DAY” and continue all summer long with blockbuster hits including: 🌊 MOANA ⚔️ Christopher Nolan’s THE ODYSSEY 🕷️ SPIDER-MAN: BRAND NEW DAY
Mark your calendars and get ready to #KickBackRelaxRecline at Phoenix Theatres at Patriot Place this summer!
Learn how you can win a year supply of movie tickets and follow the construction progress at http://phx.movie/PatriotPlace
Please update, rename to Showcase Cinema de Lux Woburn, total screens is 14 and total seats 888
Please rename theatre Majestic 7 as per website