Goodrich Quality Theaters of Grand Rapids, owners of the Hastings Four theater in Hastings filed for bankruptcy this week in a U.S Bankruptcy Court in Grand Rapids. 

A show cause hearing is set for Wednesday, March 4 where the company has filed for Chapter 11 bankruptcy protection. The company  owns some 30 theaters in five states.

Assets  are estimated at 50 to 100 million dollars, liabilities between 10 and 50 million dollars.

The Goodrich Company owes  money to between 50 and 99 creditors.