Studio Movie Grill Holdings LLC, (“SMG”) announced that it has successfully emerged from Chapter 11 bankruptcy. The Northern District of Texas (Dallas Division) Bankruptcy Court approved its Plan of Reorganization at a hearing on March 26, 2021. According to a spokesperson for the brand, SMG was one of the few Top 15 movie chains to remain open throughout the pandemic, leveraging its restaurant kitchens for curbside takeout and partnering with GrubHub for delivery orders.
As the exhibition industry resurfaces from a truly historic period, SMG is operating 17 locations in five states with two remaining locations in Indianapolis and Upper Darby (Philadelphia) scheduled to reopen on April 29th and May 27th, respectively. The brand will complete its line-up of 19 open locations in seven states in time for Memorial Day weekend. Additionally, SMG will complete construction later this year in Alpharetta, GA on a new Northpoint location, strategically located within miles of one of the largest malls in the country. SMG Northpoint will house over 1,300 recliners and 14 screens, continuing its focus on the successful Atlanta market.
SMG also announced today that longtime CFO/COO, Ted Croft, will lead SMG as CEO. Croft was instrumental in securing funding for SMG’s rapid growth over the last decade and will now focus his attention on company profitability and sustainability amid an even more complex entertainment marketplace. Prior to joining SMG in 2011, Ted consulted with large investment groups on the acquisition and divestiture of portfolios that included major brands and national franchises. His career spanned three Brinker International concepts, including the enormous success of Macaroni Grill, and culminating as CFO of Corner Bakery. “This has been a challenging time for the industry and the brand,” Croft said. “It’s a testament to SMG’s founder, team members, and our other stakeholders, that we’re standing here today delivering a best-in-class experience to folks getting out of their homes and safely back into theaters.”
SMG has also partnered with NATO (National Association of Theater Owners), further aligning its own “Simple, Safer Ways to Enjoy the Show” message with the national #CinemaSafe program. “In a recent survey of more than 50,000 SMG Guests attending a location in the last 6 months, our ‘Simple, Safer Ways to Enjoy the Show’ safety and sanitation strategy earned SMG a 95% in cleanliness and 97% in safety,” said Sheri Lawrence, VP of Learning and Development.
For all movie fans, 2021 has been good for the Box Office with titles like Tom & Jerry (WB), Nobody (Universal), and Godzilla vs. Kong (WB). SMG is eagerly anticipating the release of other blockbuster titles including Mortal Kombat (WB, April 23), A Quiet Place II (Paramount, May 28), Cruella (Disney, May 28), and Fast & Furious 9 (Universal, June 25). For showtimes, tickets, and food and beverage orders, please download the SMG App on the Apple App or Google Play Stores. For additional information please visit FB, IG, or studiomoviegrill.com.
