Can AMC Theatres Survive the Pandemic Without Bankruptcy or Downsizing Theaters?

America’s largest theater chain will continue to fight off bankruptcy next year, and failure could change the exhibition industry in a big way

Whenever movie theaters reopen next year and blockbusters return after months of pandemic delays, a major question will be whether the recovery will be enough to pull AMC Theatres back from the brink of bankruptcy — or from shuttering or selling off venues to survive.

Since the start of the pandemic in mid-March, revenue for the U.S.’s largest theater chain has collapsed by a staggering 92% compared to the same period in 2019. The company’s stock, already struggling at the start of the year at $7.46 per share, closed at $2.59 on Tuesday as the company has fought to maintain enough cash flow to cover operating costs and a debt burden that stands just under $5 billion.

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Jeremy Fuster

Jeremy Fuster

Box Office Reporter • jeremy.fuster@thewrap.com