Wolfspeed raised going-concern doubts in May, as deepening economic uncertainty stemming from changing U.S. trade policies, combined with weakening demand, triggered a series of financial challenges.

CB Theater Experience, which operates movie theaters under the CMX name, filed for bankruptcy once before in 2020. That was in the early days of the Covid pandemic when the company faced long periods of not being able to open its theaters or trying to operate them with social distancing.