Just Another LiveJournal (archersangel) wrote in ohnotheydidnt,
Just Another LiveJournal
archersangel
ohnotheydidnt

AMC Theaters Are Trying to Stay In Business



A previous post told how the company's credit rating lowered, but on Thursday,they said they intend to raise $500 million in new debt in order to improve its balance sheet.

“Due to significant actions taken by the company, we believe our current cash balance is sufficient to withstand a global suspension of operations until a partial reopening in July,” AMC said.

Currently, AMC has suspended all operations through the end of June, it is also working with landlords to defer rent payments and has furloughed all U.S. theater-level employees. Many corporate-level employees have seen their salaries cut.

Sources: My brother with a bike, The Reuters tweet, CNBC
Tags: film
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