Tobio had been seeking eight million dollars. The two million dollar loan will keep the company afloat for now. It's business as usual for Carmike Cinemas despite the company's declaration of bankruptcy. Carmike has 85 screens in Virginia and seven theaters in Central and Southwest Virginia. No word yet on the future for those theaters.
Managers say the company IS going through some major reorganization.
Analysts blame the bankruptcy on construction of too many giant theaters, and the company's failure to close older, less profitable ones. 80 Australian and New Zealand firefighters are heading to Idaho and Montana, where hot, dry conditions are making this the worst fire season in nearly 50 years. They'll work together with special firefighting crews from California and National Guard troops. Authorities say more than 50 homes have been destroyed across the state. Local Virginia produce markets are still full of fresh veggies.