COLUMBUS - Officials with Carmike Cinemas say the national movie theater chain should emerge from Chapter 11 bankruptcy reorganization within two weeks. <br>
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The company announced late Thursday that a U.S. bankruptcy court in Delaware had approved its amended reorganization plan, to become effective the middle of this month. <br>
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Columbus-based Carmike, which is incorporated in Delaware, had 28-hundred and 15 screens at 439 theaters in 36 states when it filed for reorganization in August 2000. <br>
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Chief financial officer Martin Durant said in a prepared statement that the company was able to terminate leases and close more than 130 unprofitable theaters, as well as reduce costs, streamline management responsibilities and restructure rents on other theaters.
