pandemic — looks increasingly likely to file for bankruptcy with its cash reserves dwindling, according to Wall Street analysts.
AMC reported $265 million in cash and equivalents on hand, plus $332 million available via lines of credit, as of Dec. 31, 2019. “AMC is the exhibition company we view with the least financial flexibility,” Handler wrote in his report. “We believe the company’s monthly cash burn rate in a no-revenue environment is running at $155 million per month, which likely keeps AMC liquid until June/July.”
Even if AMC is able to tap government bailout funds, Handler wrote, the company’s high leverage ratio — with $4.75 billion in debt — “will make for tough sledding… thus making a reorganization inevitable.”
China owned and mismanaged, and paid WAY too much to acquire.
GOODBYE SPIDERMAN 786!
I just hope marcustheatres don't go that route. First, it was drive-in theaters, and now this. I don't care how comfortable watching movies at home are. Nothing beats the movies experience
Who else is investing in their stock... or am I the only crazy one 👀
Don’t have to be big Corp to go bankrupt. Some just don’t get discharged
That’ll lower the ticket prices.
Lies
Good, they literally destroyed every single local chain in America
I get that it’s part of the evolution of technology, but online streaming and shopping is going to make life extremely boring in the coming years, especially for the youth
I pray someone will purchase the AMC beare and finally remodel the damn place after 20 years!!! It's DISGUSTING
GlamGangsta Wow!!!
They charge everyone $100 to see a movie and eat popcorn. Good riddance.
But AMC is owned by Wanda group a Chinese company.. maybe next time don’t sellout outside your country. Expanding yes, selling out no ...
It’s a China company, maybe they can bail them out.
Netflix should acquire
If this pandemic goes on longer, that’s probably the tip of the iceberg
Regal is about to have a monopoly then
With streaming service becoming better options and being sooo much cheaper than a theater experience this was bound to happen. I say let movie theatres die. Streaming the movies is where its at
Pirates 1 - Establisment - 0
Flatpanels Good, my local AMC was trash.
Hope not, even though I go to another movie theater right now
😢
Popcorn bout $15 & the icee be like $20 LoL!
That’s sad news
Bail them out government!
I really hope not. Theaters have been my upbringing and watching them fade away is incredibly saddening.
Dam the economy is damn weak
can someone pitch in and help me buy this 😢 going to the theater has been part of my life since I was 5 years old... seeing the biggest company at the brink of closing it's doors sucks..
i think most people have home theaters in this day and age, no point in going to a movie theatre with people on their phones the whole time.
They should start a digital theater, Netflix styled app, adapt and overcome
Nooooooooo
—00—
Bail me out government!
What’s a theatre?
Right after I finally bought Stubs A-List 😭 But seriously, this sucks!
That $30 dollar popcorn caught up with them.
Being in the film industry. This shouldn’t be allowed to happen,, tho the film industry needs go to pay per view options or alternatives, to screen films! And stay viable during this current situation!!
jus let me say bye to my fine ass manager one last time man
The trillion dollar rescue bill needs to be passed so theatres can stay afloat admist COVID-19!!!
Hard to believe that a business that charges $8 for popcorn that costs $.06/bag can have such little cash in hand. Could it be that the owners of AMC have siphoned off so much cash off the top for years, to the detriment of the company? Bankrupt them, throw out the owners. Bye!
LOL of course, I will never step into another theater again
GuiltyHonkey Bout time
Maybe studios need to go back to owning their own theater chains. It's not like the Feds give af about monopolies anyway.
And end up better for it on the back end
It was coming
Shit. What will Marvel do?
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