A WARN notice filed with the State of Maryland on March 2 indicates that the IPIC Theaters location at 11830 Grand Park Avenue in North Bethesda’s Pike & Rose is expected to close on April 28, potentially impacting 116 employees.
The filing lists IPIC Theaters, LLC and the Pike & Rose address, confirming the closure date and the number of workers affected at the Montgomery County theater.
The notice follows last week’s news that the luxury dine-in theater chain filed for voluntary Chapter 11 bankruptcy and is pursuing a court-supervised sale of its assets in the U.S. Bankruptcy Court for the Southern District of Florida. As part of that process, the company issued WARN notices to employees across locations, meaning employment beyond the notice period cannot be guaranteed.
A representative at the Pike & Rose theater previously told The MoCoShow that the location is expected to close by April 28 if a buyer is not found. The theater opened in 2014 and has served as a major entertainment anchor at the Pike & Rose development for more than a decade.
IPIC has said it expects to continue operating theaters during the restructuring process while it seeks buyers and works to maximize value for creditors. If a buyer emerges for the Pike & Rose location, the closure and job losses could potentially be avoided.
