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Goodrich Quality Theaters

The firm was counsel to the creditors' committee in the chapter 11 bankruptcy case of Goodrich Quality Theatres, filed in Western Michigan bankruptcy court. Goodrich is a Michigan-based chain of 30 movie theaters in five states and reported assets of $50,000,000 to $100,000,000 and liabilities of $10,000,000 to $50,000,000, according to court records. The debtor filed for bankruptcy protection in February 2020, attributing its problems to the rise of streaming services and a decreased audience for traditional movie theaters. In July 2020, substantially all of the chain’s assets, including the majority of its theaters, were purchased by Mason Asset Management and Namdar Realty Group.