BOCA RATON, Fla., Aug. 5, 2019 /PRNewswire/ -- IPIC® Entertainment ("IPIC" or the "Company") (IPIC), creators of America's coveted IPIC® luxury theater-and-restaurant destinations, announced today that it is in negotiations with numerous parties to complete a comprehensive financial restructuring. To consummate the restructuring the Company has initiated proceedings under Chapter 11 of the United States Bankruptcy Code in the District of Delaware ("Court") where it will seek approval of either a sale or a reorganization plan and emerge with a healthy balance sheet and new capital structure. The financial restructuring will allow the Company to further improve and enhance its theaters and dining experiences, continue to provide an unparalleled guest experience that is evidenced by the over 2 million IPIC ACCESS loyalty members, and continue with its expansion plans.

Suite of New Programming Aims to Deliver an Engaging Branded Entertainment Program for IPIC Members, Luxury Advertisers & Moviegoers NEW YORK , July 17, 2019 /PRNewswire/ -- IPIC® Entertainment Inc., ("IPIC" ...

The luxury theater chain says delays in development and high cost of capital prevented it from expanding.