AMC Theatres, the world’s largest cinema chain, has managed to stave off bankruptcy for now.
The company has raised $917 million in new equity and debt capital according to a statement released this morning.
They indicate the increased liquidity should allow the company to make it through not just this winter but their “financial runway has been extended deep into 2021.”
The chain says they also presume they will continue to make progress in ongoing dialogue with theater landlords about the amounts and timing of owed theater lease payments.
This all rides on the hope the ongoing vaccination push will result in an increase in cinema attendance.
Source: Variety
