AMC Seeks More Liquidity to Avert Movie Theater Bankruptcy
- Company signs proposed deal with debt investor Mudrick Capital
- Attendance all but evaporated at AMC’s U.S. theaters
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AMC Entertainment Holdings Inc. needs to raise at least $750 million to stay open and might go bankrupt if the effort doesn’t succeed.
The world’s largest movie-theater chain said in a filing Friday that without new financing, existing cash will be depleted as soon as next month. To remain viable through 2021, AMC is looking at selling more shares, financing from European sources and deals with debt holders including Mudrick Capital Management.