The Retirement Systems of Alabama now owns a luxury theater chain, following that company’s bankruptcy filing.

Boca Magazine is reporting that Florida-based IPIC Theaters is now a new company created this month. IPIC Entertainment, a chain operating in seven states with plush seats and restaurant offerings, filed for Chapter 11 bankruptcy reorganization in August. Among its debt was more than $200 million to RSA.

RSA, which oversees the pensions of thousands of state employees and its related investment funds, has a portfolio of roughly $43 billion.

A Monday news release said IPIC Theaters LLC acquired all of the operating assets of the affiliated debtors through a bankruptcy court hearing in Delaware. The company operates 15 theaters.

“IPIC will continue to be a pioneering brand, leading the frontier of luxury moviegoing entertainment and unparalleled destination dining," the company said in a statement. "All decisions moving forward will be strategic milestones to forward IPIC on this path, while continuing to deliver upon our brand promise.”

In an August interview with The Montgomery Advertiser, RSA CEO David Bronner said iPic makes up less than half a percent of RSA’s portfolio.

“It’s not like buying a beat-up car or a beat-up house. You’ve got the Rolls Royce of movie theaters in these huge towns,” Bronner said.