AMC Will Be Out of Cash by Early 2021
October 14, 2020 8:52AM EDT
BURBANK, CA – APRIL 17: Outside of AMC Burbank Town Center 8 during the coronavirus pandemic on April 17, 2020 in Burbank, CA. Due to COVID-19, AMC Theatres were forced to close all global locations in March. (Photo by Amy Sussman/Getty Images)
In another bad turn of events for movie theaters, AMC Theatres has announced that they’re on track to be out of cash by early 2021.
The company also says that because of a reduced amount of movies and the closing of theaters across the country their money could be depleted.
After being closed due to COVID-19, theaters were allowed to reopen at a reduced capacity, but the company still experienced an 85% decrease in attendance compared to this time last year.
Last week, Cineworld Group, which owns Regal Cinemas made the announcement that they would close its U.S. locations.
Do you think the movie industry will survive the pandemic? Have you tried to go to the movies since the pandemic?
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