aters ▁of ▁B irmingham . ▁C obb ▁attempted ▁to ▁re open ▁the ▁Alabama ▁several ▁times , ▁but ▁was ▁un success ful . ▁C obb ▁eventually ▁sold ▁the ▁Alabama ▁to ▁Costa ▁and ▁Head , ▁developers ▁working ▁to ▁rev ital ize ▁the ▁dow nt own ▁area . ▁Costa ▁and ▁Head ▁initi ated ▁series ▁of ▁classic ▁mov ies ▁at ▁the ▁Alabama ▁with ▁some ▁success , ▁but ▁ultimately ▁file d ▁for ▁bank rupt cy ▁in ▁ 1 9 8 6 . ▁ ▁The ▁Alabama ▁Chapter ▁of ▁the ▁American ▁Theatre ▁Organ ▁Society ▁( AT OS ) ▁had ▁been ▁maintain ing ▁the ▁Alabama ' s ▁organ ▁starting ▁in ▁the ▁ 1 9 7 0 s . ▁They ▁sought ▁permission ▁to ▁remove ▁the ▁organ ▁from ▁the ▁Alabama ▁to ▁save ▁it , ▁but ▁Costa ▁and ▁Head ' s ▁credit ors ▁de emed ▁it ▁the ▁single ▁most ▁valuable ▁item ▁in ▁the ▁building ▁and ▁forb ade ▁its ▁removal . ▁In ▁response ▁the ▁Alabama ▁Chapter ▁of ▁AT OS ▁began ▁a ▁fund - ra ising ▁effort ▁to ▁buy ▁the ▁Alabama . ▁It ▁was ▁purchased ▁by ▁B irmingham ▁Land marks , ▁Inc . ▁in ▁ 1 9 8 7 . ▁ ▁The ▁non - pro fit ▁organization ▁was ▁originally ▁started ▁with ▁the ▁sole ▁purpose ▁of ▁saving ▁the ▁the ater . ▁With ▁the ▁purchase , ▁the ▁the ater ▁was ▁renamed ▁the ▁Alabama ▁Theatre ▁for ▁the ▁Perform ing ▁Arts . ▁In ▁ 1 9 9 3 , ▁the ▁Alabama ▁was ▁designated ▁the ▁official ▁state ▁historic ▁the ater ▁of ▁Alabama . ▁ ▁In ▁ 1 9 9 8 ,