AMC Theatres Fights Bankruptcy

AMC Theatres Fights Bankruptcy 3

AMC Theatres is one of the many companies fighting bankruptcy. Covid-19, the thorn in everyone’s side, is forcing theatres like AMC and Regal Cinemas to the tips of their toes pirouetting to continue entertaining audiences without collapsing before the world.

Theatre doors remained closed for months during the facing pandemic of 2020. During those months, films continued to release through digital platforms such as VUDU, Google TV, or Amazon Prime by special “Theatre at Home” advertising. While there is no confirmed news yet regarding if films will continue to release for home viewing after the pandemic, AMC hopes to stay open and on top despite Regal closing their doors.

CNBC reports that 20 million class A shares will secure nearly $50 million in new capital for AMC. With shares for AMC falling about 7% on Monday, perhaps digital home theatre will be on the rise. Society would regret the bankruptcy of their local theatres just as it has when Blockbuster and other video stores demolished across the world in 2013. The Coronavirus pandemic is temporarily keeping people from AMC; however, they’re hoping not to dip any further into the near $5 million debt they carried before they were forced to close their doors.

Thanksgiving and Christmas is everyone’s favourite time to gather together. Although AMC would benefit greatly from another massive Marvel or Disney release such as Star Wars, it hopes films like Wonderwoman 1984, Black Widow, and Dune will be able to help propel them back to previous pandemic levels by the end of 2020.

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