- AMC Theaters may file for bankruptcy on account of the coronavirus.
- AMC Theaters have been closed since mid-March and may remain closed well into June.
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The impact of the coronavirus on the U.S. economy has been nothing short of disastrous. Most businesses have been forced to close up shop and millions of people across the country have been left unable to earn a paycheck. In turn, it’s not surprising that unemployment figures in the U.S. have reached levels we’ve never seen before. Consider this: over the course of three weeks — from late March through early April — an estimated 17 million Americans filed for unemployment. To put that figure into context, that represents 10% of the U.S. workforce.
While some businesses — like restaurants, for instance — have been able to remain open and generate cash via takeout and delivery orders, others have been permanently closed for weeks. Movie theater chains in particular have been hit extremely hard by the coronavirus. With that said, it’s perhaps no surprise that AMC Entertainment — which is the largest movie chain in the country — is actively exploring filing for Chapter 11 bankruptcy.
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AMC Theaters will likely file for bankruptcy due to the coronavirus originally appeared on BGR.com on Mon, 13 Apr 2020 at 17:34:09 EDT. Please see our terms for use of feeds.
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