Cinemaworld of Florida, the operator of Majestic and CW-branded theaters, filed for Chapter 11 protection — the latest chain to go belly-up as streaming services sap business.
The company, which does business as The Majestic 11 and CW Lanes & Games, operates movie theaters and entertainment venues across three states, including Florida.
Cinemaworld reported having between $10 million and $50 million in both assets and liabilities, according to the filing last week in US Bankruptcy Court in Miami.
The bankruptcy petition stated that funds would remain for distribution to unsecured creditors after covering administrative expenses.
The filing includes the company’s flagship Majestic 11 theater in Vero Beach, Fla., as well as other CW-branded properties.
CW Theaters offers some of the most affordable first-run movie tickets available, with adult admission priced at $7 every day for all showtimes.
Discounted $5 tickets are available for military members, veterans, hospital staff, first responders, seniors aged 55 and up, and children 12 and under.
On Super Tuesday, all standard tickets are just $4 throughout the day.
Court records show Cinemaworld is seeking to restructure its finances while keeping operations running.
Chapter 11 allows companies to continue business as they work out a reorganization plan — often involving renegotiated leases, debt restructuring or asset sales. Any final plan must win approval from both creditors and the court.
The company, headquartered in Vero Beach, did not disclose the number of theaters or employees affected in its initial filing. More details are expected as the case moves forward.
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Cinemaworld’s bankruptcy comes as movie theaters continue to reel from post-pandemic fallout. Declining ticket sales, competition from streaming platforms and changing consumer habits have battered chains both large and small.
Since 2020, several major movie theater chains have filed for bankruptcy amid mounting financial pressures following the COVID pandemic.
Cineworld, the owner of Regal Cinemas, filed in 2022 and closed more than 50 locations before emerging from bankruptcy in 2023.
CMX Cinemas and Cinemax Holdings USA have each filed twice in five years, most recently in 2025, with both companies continuing to operate 28 locations while reorganizing.
Alamo Drafthouse, which filed in 2021, was acquired by Sony Pictures in 2024, while Metropolitan Theatres Corp. filed for reorganization in early 2024.
Even chains like AMC Theatres, which has not filed, are grappling with heavy debt and shrinking revenues as the broader industry continues to feel the effects of the pandemic, streaming competition, and changing audience behavior.
While Chapter 11 offers a path to survival, it doesn’t guarantee all locations will remain open. Closures, layoffs or asset sales could follow depending on how the restructuring unfolds.
[Notigroup Newsroom in collaboration with other media outlets, with information from the following sources]
