AMC Theaters Bleeding Cash Because Of Coronavirus And Could Be Broke By End Of 2020
AMC Theaters (AMC) warned Tuesday if it doesn’t receive assistance or reopen from the coronavirus shutdowns, it will be out of money by the end of 2020.
AMC executives issued their warning during an investor call, saying the current state of the film industry has the largest cinema chain in the U.S. bleeding cash. The warning was not met well on Wall Street, as AMC’s stock took an 8-point hit by 12:30 p.m. Tuesday.
AMC previously said it reopened 494 of it 598 locations across the U.S., but theaters were...