AMC is Working on Raising Funds for a reopening and rehiring
News on the movie theater front has been pretty gloomy and doom for a little while. But, it seems that AMC may have a card up their sleeve! After they shared their plans to reopen in early July, many were skeptical.
Theaters in general got hit rather hard by all of the COVID closures. Laying off thousands of employees, furloughing the rest and just having to play it by ear. They suffered a lot of setbacks and have to be extremely careful by reopening at a good time.
According to the report published by The Hollywood Reporter, AMC has regained a sense of confidence. Their plan is fairly straightforward and they believe in their chances.
“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. After giving effect to the proposed notes offering, we believe the company will have sufficient liquidity to withstand a global suspension of operations until a partial reopening ahead of Thanksgiving.”
Hopefully this optimism continues as fans wonder at when we’ll see things properly reopen. Even if the new normal is half capacity or limited show runnings, we’re pretty eager to get back to our movies. Time will tell how Cinemark and AMC’s plans unfold.
What do you make of AMC’s plans to consistently remain open until a permanent worldwide reopening? Be sure to leave a comment and follow us at Scoophash for more updates!