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AMC faces serious cash crunch despite theaters reopening
(iStock; Getty)
Movie theater chain says it has serious doubts about cash flow
Movie theaters are reopening across the country, but that may not be enough to save some of the biggest cinema operators.
AMC Entertainment Holdings, one of the world’s largest movie theater operators, said it could run out of cash by the end of the year if it can’t find additional sources of liquidity.
The company said in a filing on Tuesday that “substantial doubt exists about the company’s ability to continue …”
AMC has seen visitors to its theaters fall by 85 percent compared to last year
Movie theaters have been pummeled by the pandemic. Although some chains, including AMC, have reopened theaters, moviegoers remain skittish about going back to theaters due to concerns in contracting the virus.
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