The world’s biggest movie chain has warned it could run out of money by the end of the year, citing a plunge in film-going and delayed movie releases amid the coronavirus pandemic.
Despite reopening the majority of its theatres, AMC Entertainment Holdings said attendance remained down 85% in the US and 74% elsewhere.
AMC says it is looking to raise money.
The warning follows rival Cineworld’s recent decision to temporarily close its cinemas in the US and UK.
AMC, which has previously said it is spending about $100m a month, told investors that it expected its cash to “be largely depleted by the end of 2020 or early 2021”.
The amount of money needed is “material”, the firm added.
“There is a significant risk that these potential sources of liquidity will not be realised or that they will be insufficient to generate the material amounts of additional