KENTWOOD, Mich. (WOOD) — Metro Grand Rapids-based Goodrich Quality Theaters has filed for Chapter 11 bankruptcy protection.
Paperwork filed in federal bankruptcy court Tuesday shows Goodrich owes nearly $33 million to creditors including Disney, IMAX, Pepsi, Sony and Warner Brothers, among others.
Chapter 11 bankruptcy would allow the company to restructure its debts. It still has between $50 million and $100 million in assets, according to the documents.
Headquartered in Kentwood, Goodrich has theaters in five states, including several in West Michigan: Battle Creek, Grand Haven, Hastings, Holland, Kalamazoo, Lowell and Three Rivers. Those theaters remain open.
Requests for comment from Goodrich and its attoney were not returned Friday.