Cinemex Holdings USA, Inc.

Cinemex Holdings USA opened a jointly administered Subchapter V case with CMX Cinemas, LLC and CB Theater Experience LLC after filing on June 30, 2025, seeking to stabilize its CMX Cinemas and CMX CineBistro dine-in theater business source filing source filing. The debtors operated 28 theaters across eight states with about 1,400 employees, reporting roughly $129 million of 2024 revenue against $133 million of expenses, about $1 million of current assets, $123 million of fixed and intangible assets, $15 million of liabilities excluding intercompany debt, and a $50 million Wine & Roses intercompany claim. The case thesis was operational rather than liquidation-driven: shed or renegotiate uneconomic leases and rebalance film-studio economics after pandemic-era attendance pressure, streaming competition, labor-strike content disruption, and legacy rent burdens.

The court confirmed the amended Subchapter V plan as consensual under section 1191(a) on November 17, resolving MN Theaters 2006 LLC’s confirmation objection and overruling any remaining objections not otherwise resolved source filing. Class 3 non-priority unsecured creditors are impaired and paid from projected disposable income; the confirmation order permits the initial three-year payment period to extend up to two additional years, with years four and five based on $3.2 million of projected disposable income per year. Wine & Roses’ separately classified claim is subordinated behind other creditor distributions under the plan structure source filing. The plan later became effective on December 1, 2025, and the debtors filed notice of substantial consummation on December 10 source filing.