AMC Theatres Faces Existential Threat From Coronavirus Shutdown: ‘I Don’t See How They Survive’

“We’re witnessing the single greatest disruption of the film industry in American history,” said Eric Schiffer, CEO of private equity firm The Patriarch Organization

AMC Theatres, the nation’s largest movie theater chain with more than 630 venues in the U.S., faces an existential threat after the coronavirus pandemic forced the company to close all of its theaters in the U.S. and U.K. for the next six to 12 weeks.

The debt-laden exhibitor’s stock price has plummeted 83% in the last year, finishing Tuesday’s trading session below $3 a share as its market cap has shrunk to just $271 million. All of this raises questions about whether it will still be left standing when the dust of COVID-19 eventually settles.

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Trey Williams

Trey Williams

Film Reporter covering the biz • trey.williams@thewrap.com • Twitter: @trey3williams