Particle.news

iPic Files for Chapter 11 Again, Sets Closures as It Seeks Buyer

WARN filings set April and May closure dates for multiple sites during a court-supervised sale.

Overview

  • The luxury dine‑in chain filed for Chapter 11 on Feb. 25 in Florida, saying operations will continue during an expedited asset sale process.
  • WARN notices detail permanent shutdowns for Westwood and Pasadena, Calif., on April 28, a Redmond, Wash., theater on April 28, an Atlanta theater and its Serena Pastificio restaurant on April 28, and Fort Lee, N.J., on May 28.
  • The company operates 13 theaters with about 100 screens and eight restaurants across several states, employing roughly 1,300 workers.
  • Recent filings report 2025 revenue of about $112.5 million and a net loss near $20 million, with more than $2.5 million owed to vendors and employees and about $141,000 in taxes outstanding.
  • Public documents list conflicting balance sheets, with some filings showing $10 million–$50 million in assets and up to $10 million in liabilities, while others cite about $155.3 million in assets and $113.9 million in liabilities.