Cinemex Chain’s Bankruptcy Exit Plan Prompts Landlord Pushback

Cinemex Holdings USA, the owner of CMX Cinemas movie theaters, shouldn’t be permitted to reorganize in bankruptcy because its plan doesn’t have sufficient creditor protections, an owner of two Minnesota theaters said.

CMX Cinemas, which is going through bankruptcy for the second time in five years, is advancing a small business restructuring plan that reinstates equity in the parent company despite failing to show it will provide adequate payments to creditors going forward, MN Theaters 2006 LLC said in a filing Monday with the US Bankruptcy Court for the Southern District of Florida.

MN Theaters, which has a nearly $10 ...