×
You will be redirected back to your article in seconds

Showscan files Chapter 11

Theater operators unable to pay $5 mil owed

Long-struggling ride-simulation company Showscan Entertainment filed for Chapter 11 reorganization Wednesday in U.S. Bankruptcy Court.

The Los Angeles-based company, which has bled red ink in recent years, was pushed into the voluntary filing when a pair of Showscan-affiliated theater operators failed to pay a combined $5 million owed for ridefilms and theater systems, Showscan senior VP Russell Chesley said.

Traded over the counter as a penny stock, Showscan has yet to file its fiscal 2000 financial results. The company reported a loss of $4.2 million in the previous fiscal year, ended March 31, 1999.

“While the decision to file was a difficult one, it represents the best alternative for Showscan at this time,” CEO Dennis Pope said. “This filing will allow us to minimize the impacts on our day-to-day operations.”

Showscan’s simulation attractions operate in theme parks and other locations in 24 countries.

More Biz

  • President Donald Trump talks with Gov.-elect

    Trump Says He'll Work With California to Aid Wildfire Relief

    Long-struggling ride-simulation company Showscan Entertainment filed for Chapter 11 reorganization Wednesday in U.S. Bankruptcy Court. The Los Angeles-based company, which has bled red ink in recent years, was pushed into the voluntary filing when a pair of Showscan-affiliated theater operators failed to pay a combined $5 million owed for ridefilms and theater systems, Showscan senior […]

  • church set Westworld Paramount Ranch Western

    Park Service Aims to Rebuild Western Town at Paramount Ranch in Two Years

    Long-struggling ride-simulation company Showscan Entertainment filed for Chapter 11 reorganization Wednesday in U.S. Bankruptcy Court. The Los Angeles-based company, which has bled red ink in recent years, was pushed into the voluntary filing when a pair of Showscan-affiliated theater operators failed to pay a combined $5 million owed for ridefilms and theater systems, Showscan senior […]

  • Jim Acosta Microphone Moment

    First They Came For Acosta. Why We Sued Trump Before He Acts Again (Opinion)

    Long-struggling ride-simulation company Showscan Entertainment filed for Chapter 11 reorganization Wednesday in U.S. Bankruptcy Court. The Los Angeles-based company, which has bled red ink in recent years, was pushed into the voluntary filing when a pair of Showscan-affiliated theater operators failed to pay a combined $5 million owed for ridefilms and theater systems, Showscan senior […]

  • Daniel GlassUJA-Federation of New York's Music

    Glassnote Music Strikes Strategic Partnership With Kobalt’s AWAL

    Long-struggling ride-simulation company Showscan Entertainment filed for Chapter 11 reorganization Wednesday in U.S. Bankruptcy Court. The Los Angeles-based company, which has bled red ink in recent years, was pushed into the voluntary filing when a pair of Showscan-affiliated theater operators failed to pay a combined $5 million owed for ridefilms and theater systems, Showscan senior […]

  • Movie Theater

    Studios Expected to Push for Early Home Release in 2019 (EXCLUSIVE)

    Long-struggling ride-simulation company Showscan Entertainment filed for Chapter 11 reorganization Wednesday in U.S. Bankruptcy Court. The Los Angeles-based company, which has bled red ink in recent years, was pushed into the voluntary filing when a pair of Showscan-affiliated theater operators failed to pay a combined $5 million owed for ridefilms and theater systems, Showscan senior […]

  • NetEase Discusses Importance of Chinese Gaming

    NetEase Discusses Importance of Chinese Gaming Regulation, Anti-Addiction Measures

    Long-struggling ride-simulation company Showscan Entertainment filed for Chapter 11 reorganization Wednesday in U.S. Bankruptcy Court. The Los Angeles-based company, which has bled red ink in recent years, was pushed into the voluntary filing when a pair of Showscan-affiliated theater operators failed to pay a combined $5 million owed for ridefilms and theater systems, Showscan senior […]

  • Iggy Azalea at Hits 97.3, Fort

    Iggy Azalea Says She’s Signed a $2.7 Million Deal

    Long-struggling ride-simulation company Showscan Entertainment filed for Chapter 11 reorganization Wednesday in U.S. Bankruptcy Court. The Los Angeles-based company, which has bled red ink in recent years, was pushed into the voluntary filing when a pair of Showscan-affiliated theater operators failed to pay a combined $5 million owed for ridefilms and theater systems, Showscan senior […]

More From Our Brands

Access exclusive content