August 9, 2000 |
Carmike Cinemas Inc., the struggling No. 3 U.S. movie theater chain, filed for Bankruptcy Court protection from creditors less than a week after failing to make $9 million in interest payments to bondholders. The Columbus, Ga.-based chain listed $841.1 million in assets and $652.8 million in debts in its Chapter 11 petition Tuesday in U.S. Bankruptcy Court in Wilmington, Del.
August 3, 2000 |
Carmike Cinemas Inc., struggling in the overbuilt U.S. theater market, said Wednesday that its senior lenders blocked an interest payment of about $9 million due to holders of the firm's junk bonds. That sent the stock (CKE) down $1.75 to a record low of $1.50 on the New York Stock Exchange. But the company insisted that it will be able to pay its debt for the next year to 24 months. "We are not currently experiencing liquidity problems," Carmike said.
November 12, 1998 |
Federated Department Stores Inc. and Nordstrom Inc. reported better-than-expected earnings for the latest quarter even though sales were hurt by consumers' preference for more value-oriented stores. Both department store operators credited better controls over costs for their performance. Cincinnati-based Federated, whose chains include Macy's and Bloomingdale's, said its fiscal third-quarter profit rose 4.8% to $110 million, or 50 cents a share, beating analysts' average estimates by a penny.
May 29, 1998 |
Carmike Cinemas Inc., the nation's largest movie theater operator, warned that its second-quarter profit will fall well below analysts' forecasts because of the disappointing performance of "Godzilla" and other films. Sony Corp.'s "Godzilla," which opened May 19, was expected to lift the fortunes of the film business after a slow spring, but the $55 million in ticket sales it garnered in its first weekend fell below the $100 million some analysts expected.
May 19, 1995 |
* Theaters: Carmike Cinemas Inc. said it agreed to acquire 145 screens from Toronto-based Cineplex Odeon Corp. for $22 million in cash, extending its movie house buying binge. The transaction would close the gap between Columbus, Ga.-based Carmike, the second-largest motion picture exhibitor in the United States, and industry leader United Artists Theater Circuit Inc. The purchase would increase the Carmike chain by 7% in time for the busy summer season.
October 18, 1994
Digital Theater Systems, a Westlake Village-based supplier of digital sound systems for movie theaters, will provide theater-chain giant Carmike Cinemas with 300 DTS sound units under a far-reaching agreement announced by the two companies. Terms of the deal were not disclosed. Carmike will buy 300 of the digital sound systems, to be installed immediately.