Goodrich Quality Theaters has filed for bankruptcy after nine decades of selling tickets and serving popcorn.
The Michigan-based movie chain has two locations in mid-Missouri: Forum 8 in Columbia and Capital 8 in Jefferson City.
According to the bankruptcy documents, the movie chain owes major corporations, including PepsiCo, Warner Brothers and Walt Disney Studios.
The smallest loan is more than $26,000 to Wabash Landing 11 LLC. The biggest loan is more than $1 million to Vistar Corporation.
Read the source article at columbiamissourian.com
“It is likely the company did not keep up with modern technology,” said Curtis Bradley, a financial expert. “They have all this new competition with streaming services like Disney and Netflix.”