Home Film AMC Theaters Could File Bankruptcy (VIDEO)

AMC Theaters Could File Bankruptcy (VIDEO)

174
0
Photo Credit: Screen Daily
(Video Courtesy of CNBC Television)

NEW YORK, NY– The AMC Theaters have been shut down in the wake of the Coronavirus pandemic that have forced many to stay quarantined inside, for an unknown period of time to prevent the spread of the virus. 

With the theater chains being closed until at least August, AMC may have to file bankruptcy due to lack of liquid assets available to keep the theater chain afloat. According to Variety, AMC reported $265 million cash and $332 million in credit lines as of December 31, 2019.

(Video Courtesy of John Campea)

In an effort to save costs, the country’s largest movie chain furloughed over 600 employees and CEO Adam Aron. The theater chain haven’t paid rent since the beginning of April since the theaters remained closed. 

With the theater chain not paying rent will enable them to be able to stay afloat longer than expected, yet without any type government assistance AMC could see themselves deep in an abyss of financial peril with no possible return.

Previous articleKobe Makes It Into 2020 Basketball HOF Class (VIDEO)
Next articleCan MLB Survive 2020 Season? (VIDEO)
With over a decade in the media industry, Nick Hamilton is the founder of Nitecast Media. A dynamic media personality known for his featured work on SIRIUSXM, SB Nation, NBCLA, AXS.com to name a few. Along with conducting interviews, filing stories, and exclusive video content, Nick has made a name for himself as a content creator and reporter.