AMC CEO Says Company Focused on Fundraising, Not Bankruptcy
- Aron says movie theater chain primarily aims to raise equity
- AMC said Tuesday it could run out of cash as soon as year-end
Adam Aron
Photographer: Matt Winkelmeyer/Getty Images
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AMC Entertainment Holdings Inc.’s chief executive officer says the cinema chain is doing everything it can to raise fresh cash to weather the Covid-19 pandemic and isn’t considering bankruptcy at the moment. The shares fell more than 20% in New York trading.
“We’re going to throw all of our efforts now into raising additional capital, primarily equity, to lengthen our runway even more,” CEO Adam Aron said late Tuesday in an interview with Bloomberg News. “We’d like to succeed in this effort. If we don’t, obviously we’ll have to consider other options down the road. But that time has not yet arrived, and any reports to the contrary are wholly inaccurate.”