Metropolitan Theatres Corporation, a closely held movie theatre operator described as a fourth-generation family business, filed a Chapter 11 Subchapter V case in the U.S. Bankruptcy Court for the Central District of California on February 29, 2024 (Case No. 2:24-bk-11569-BR). Docket research attributes the filing to the combined effects of COVID-19 shutdowns and a slow recovery in moviegoing, reduced film content and box office performance (including impacts from the 2023 WGA and SAG-AFTRA strikes), rising operating costs, and above-market lease obligations that strained liquidity. At filing, the company was described as operating 16 theatres with 87 screens across California, Colorado, and Utah, with a mix of leased locations and an owned flagship property (the Arlington Theatre). During the case, the debtor obtained $1.0 million of insider DIP financing from President David Corwin in two $500,000 tranches (approved June 13, 2024 and November 5, 2024). The debtor filed multiple iterations of a Subchapter V plan, culminating in a Second Modified Plan filed February 11, 2025. The plan was confirmed on March 21, 2025 and became effective April 1, 2025, preserving existing family ownership while providing for distributions to general unsecured creditors described as approximately 15.5 cents on the dollar for non-insiders (and approximately 7.3 cents for insiders) over a three-year period.