[ALERT] IPIC Theaters Files for Bankruptcy, Closing Midtown Atlanta Location

The IPIC Theaters at Colony Square in Midtown (1197 Peachtree Street) will soon close, according to a Worker Adjustment and Retraining Notification (WARN) Act filing from Wednesday.  

The nine screen, 426 dinner & a movie theater opened December 17, 2020, marking the Boca Raton-based company's first and only location in metro Atlanta.  

In their notice to employees, the company blamed the closure on "business circumstances." The theater will close April 28, affecting 163 employees.

ToNeTo Atlanta has learned that the company filed for Chapter 11 bankruptcy in West Palm Beach, Florida on February 25.  

The luxury dinner & a movie operator filed for Chapter 11 bankruptcy the first time in August 2019 and was ultimately acquired after a successful bankruptcy restructuring in November 2019. 

IPIC opened Serena Pastificio, an upscale, full-service Italian restaurant at Colony Square on July 13, 2021 in a space adjacent to its theater.  The 230-seat, roughly 6,600 square foot eatery was the first separate restaurant concept for the theater operator, but a second location debuted in December 2022 alongside an existing IPIC at Mizner Park in Boca Raton.  

A source at the restaurant indicates that IPIC is looking to sell the Serena concept to outside investors and that if successful, it would remain a going concern as an independent brand.  If unsuccessful, Serena would, like the theater, close as of April 28.  

As of February 2026, the company operates fourteen theatre locations (and two Serena units) across nine states, with Florida home to three.  

IPIC's upcoming closure comes on the heels of the closure of CMX CinéBistro and its ten screen theater at Halcyon (5180 Town Center Boulevard) in Alpharetta.  The theater spanned nearly 38,000 square feet and helped anchor the mixed-use development.  The theater reportedly closed abruptly this past Sunday, having first opened on September 27, 2019.   

It was the third in metro Atlanta for the "dinner & a movie" theater operator, joining locations in TOWN Brookhaven and Peachtree Corners Town Center.  The Brookhaven and Peachtree Corners theatres closed in September 2020 and December 2025, respectively, with their parent company, Cinemex Holdings USA, also going through two bankruptcy filings in recent years.   

Are you surprised to see IPIC close in Colony Square?  Where do you typically see movies?  What would you like to see open in place of IPIC at Colony Square?   

Please share your thoughts below.