America’s Movie Theater Crisis Deepens as Another Regional Chain Weighs Closures

Cinemex Holdings USA, owner of the CMX Cinemas chain, is considering selling assets or shutting down theaters after struggling to recover from pandemic-era setbacks. The move signals more trouble for an already battered industry.

Key Facts:

CMX Cinemas is exploring asset sales or location closures with the help of A&G Real Estate Partners.
The chain previously filed for Chapter 11 bankruptcy during the early months of the COVID-19 pandemic.
Movie ticket sales in the U.S. and Canada are down 13% this year compared to last.
CMX operates 28 locations in eight states and is owned by Grupo Cinemex of Mexico.
Major competitors like Cineworld and AMC have also faced significant financial distress in recent years.

The Rest of The Story:

CMX Cinemas, a Miami-based dine-in theater chain, is reviewing its business operations as it faces ongoing financial pressure.

The company is reportedly weighing whether to close locations or sell off parts of the business.

Advisors from A&G Real Estate Partners are helping evaluate the options.

This isn’t CMX’s first brush with financial trouble.

In 2020, it filed for Chapter 11 bankruptcy, burdened by over $100 million in debt, as the pandemic forced theaters to close.

CMX’s bankruptcy filing also put a hold on an $82 million lawsuit from a Texas theater chain related to a canceled acquisition.

CMX’s parent company, Grupo Cinemex, entered the U.S. market in 2016 and underwent its own restructuring in 2021.

Despite emerging from bankruptcy, CMX and others in the industry continue to suffer from the long-lasting effects of shutdowns, a lack of blockbuster releases, and a permanent shift in consumer habits toward at-home streaming.

Commentary:

The movie theater industry is on life support.

What began as a temporary disruption during the pandemic has now become a long-term collapse of consumer behavior.

The numbers don’t lie—ticket sales are down, and once-proud theater chains are exploring desperate measures just to stay afloat.

Streaming services have filled the gap and then some.

Studios now cater to home viewers first, releasing major films directly to apps people already pay for.

It’s easy, convenient, and increasingly the norm.

But something deeply human is being lost in the process.

Moviegoing was more than just watching a film—it was an experience.

Whether it was a first date, a night out with friends, or a family outing, theaters offered a chance to share something special on the big screen.

The sound, the visuals, the laughter and gasps of a room full of strangers—it all created a sense of community.

Today, most of us consume films on our couches, often while checking our phones.

The communal joy and emotional highs of theaters are fading.

Worse, younger generations may never even know what they’re missing.

Unless there’s a serious shift in public attitude, theater chains like CMX could soon be a thing of the past.

That’s not just bad for business—it’s a cultural loss.

The Bottom Line:

CMX Cinemas’ potential closures are the latest signal that America’s movie theater industry is in trouble.

Pandemic-related shutdowns and the rise of streaming have changed the way people watch films—possibly for good.

Without a revival in demand for the traditional theater experience, more closures are likely.

What was once a central part of American culture may soon be reduced to a memory.