Wall Street analysts at MKM Partners wrote on Thursday, April 9th, “Based on our view that theatres will be closed until at least August and our belief that AMC lacks the liquidity to stay afloat until that time, we expect the company will soon be faced with filing for bankruptcy.” He downgraded AMC Theatres stock from “neutral” to “sell.”
The report adds: Even if AMC is able to tap government bailout funds the company’s high leverage ratio — with $4.75 billion in debt — will make for tough sledding… thus making a reorganization inevitable.”
Don’t Panic
Bankruptcy doesn’t mean out of business. It’s a way for a company to protect itself from going out of business while it restructures. If AMC Theaters does indeed file bankruptcy, then for sure things will change, and some theaters may not reopen, but in some fashion or another, the USA’s largest theater chain will be showing movies again when it’s safe.
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The bigger question is: when will theaters reopen and what will that look like? I don’t think anyone expects a packed theater on August 14th for the Wonder Woman 1984 premier. But if not, then what will it be like? My guess is theaters will sell at most 1/2 of the seats for each showing — maybe less. So it might be the case that WW1984 is the only movie showing at some theaters. Strange days for sure.
#WonderWoman1984 is rescheduled to premier on August 14th. If theaters are indeed open will you go see it…
A) Opening night. No matter what!
B) Opening night, if theaters are 1/2 filled.
C) Late Sept., when theaters are mostly empty.
D) I'll Wait for the DVD. 🙁#COVID19
— RunPee (movie app/film hub) (@RunPee) April 14, 2020
A Return to Americana – Drive In Movie Theaters Are Back in Style
Don’t miss your favorite movie moments because you have to pee or need a snack. Use the RunPee app (Androidor iPhone) when you go to the movies. We have Peetimes for all wide release films every week, including A Haunting in Venice, Expend4bles, Gran Turismo, Oppenhiemer, Barbie, and coming soon The Creator and Killers of the Flower Moon, and many others. We have literally thousands of Peetimes—from classic movies through today's blockbusters. You can also keep up with movie news and reviews on our blog, or by following us on Twitter @RunPee. If there's a new film out there, we've got your bladder covered.
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Aspiring author. Would like to finish his “Zombie Revelations” trilogy if he could break away for working on RunPee and the cottage he’s building for RunPee Mom.
Rob Williams Administrator
Just read this article…
https://www.theguardian.com/film/2020/apr/14/covid-19-killed-the-film-industry-hollywood-coronavirus?CMP=Share_iOSApp_Other
It’s more optimistic than it seems at first glance!
Dan Gardner Administrator
That’s a fantastic article. Thanks for sharing.
Jill Florio Administrator
I am hearing news that AMC will be able to put off bankruptcy now until late Fall, when movies are expected to return. OMG, let’s hope. We need our AMCs.