Carmike Cinemas (NASDAQ:CKEC) targets rural markets across America with 244 theaters and 2,464 screens in 35 states. It has a goal of expanding to 300 theaters and 3,000 screens in the near future.
There is no doubt the overall cinema industry has declined and consolidation is underway, although it'll take time to bring to fruition. To that end Carmike Cinemas is positioned pretty strongly for growth after it finally learned its lessons the hard way and got rid of its overly aggressive expansion plans while taking on too much debt.
After filing for bankruptcy in 2000, the company got rid of its poor performing locations, but after exiting bankruptcy got into the same trouble as it attempted to...
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