The grim future suggested for the Alamo Drafthouse theater chain predicted back in March when the company filed for bankruptcy has been averted.

Variety and Deadline report that Alamo has officially emerged from Chapter 11 thanks to its sale to Altamont Capital Partners. Its resurgence includes the planned opening of five new theaters and a stellar performance at its just-reopened Los Angeles location this past weekend that involved every showtime over the holiday weekend being sold out.

Referencing that strong debut, Alamo founder and executive chairman Tim League said, “This is likely the first time in Alamo Drafthouse history that every single film for every single showtime for a theater has been sold out across a four day period. It’s a powerful testament to our collective desire to come together to experience the magic of the big screen again.” Alamo CEO Shelli Taylor confirmed that “The question of whether audiences are ready to return to movie theaters has been answered with a resounding ‘Yes!’”

Taylor shared a statement that professed “We’re so grateful to our incredible partners at Altamont and Fortress, who are completely aligned with our vision for Alamo Drafthouse’s growth. We’re so thrilled to be reopening theaters across the country and welcoming back audiences for an unparalleled moviegoing experience with films we’ve been eagerly awaiting for over a year now. It’s incredibly exciting to be back on that path so we can bring the Alamo Drafthouse experience to new locations around the country, including our very first locations in Manhattan, St. Louis, and D.C.”

Chief among those new venues is New York City, which will be located in Manhattan’s Financial District and feature fourteen screens. It is also set to house the Press Room, a brand-new museum, letterpress print shop, bar, and event space.

The Press Room, according to League, “will feature an astounding collection that will serve as a museum of film and advertising history. And with 14 screens, we will be able to support the important New York openings of a vast array of films. We’re so excited and can’t wait for New York movie lovers to see what we have in store for them at our Lower Manhattan theater.

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