AMC Will Be Out of Cash by Early 2021
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.