COVID-19 shutdown may force AMC Theaters to file for bankruptcy

(CNN, WOLO) – With locations in South Carolina and across the country closed because of the COVID-19 shutdown, financial analysts think the world’s largest movie theater chain will likely file for bankruptcy.

AMC Theaters was already struggling since before locations closed March 16th.

Some Wall Street analysts believe the earliest the chain could re-open would be August and predict AMC will be completely out of money by then.

The theater chain has already furloughed more than 600 corporate employees and told landlords across the country it will stop paying rent in April.