AMC Theatres has spent the COVID-19 pandemic trying to stave off bankruptcy, but its latest round of financing may have bought the theater chain enough time to survive until cineplexes can reopen…at least, if that reopening comes sometime this year.
On Monday, CEO Adam Aron announced that the company has raised $917 million in new equity and debt capital and expects that the new cash flow, combined with negotiations with landlords on lease payments and successful vaccination of millions of Americans, should be enough to prevent AMC from having to file bankruptcy before health officials give movie theaters the green light to reopen.