iPic Hits The Wall

iPic, the high-end, exclusive cinema chain warned yesterday that they were facing a 'cash crunch' that could push them into Chapter 11 bankruptcy.

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
concern".

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

iPic was the first chain to screen Netflix original films day-and-date with the streamer. 

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.

Jim Lavorato
Cinema Mucho Gusto
www.gotoeec.com