Citing its inability to pay a $10.1m interest payment
due on its $204 outstanding debt, the company issued a press release stating,"If we are unable to
restructure our debt, given our lack of liquidity, we
will not have the ability to continue as an on-going
iPic, founded in 2006, operates 16 theatres (123 screens) in major cities throughout the U.S. It provides luxury movie-going with admission
prices topping $30 and offering waiter-served gourmet food and cocktails.
|iPic Lounge in Restaurant/Bar area|
I've visited the iPic in Scottsdale, AZ and it does live up to the expectations and experience one anticipates. Everything is first-rate: setting, seating, service, and concession. This level of movie-going does come with a price however - a movie for two with food and drink is north of $100.
Cinema Mucho Gusto