Theater chain AMC raises nearly $1BILLION in funding to survive the pandemic winter and says bankruptcy is ‘completely off the table’ (dailymail.co.uk)
AMC Entertainment Holdings has raised an additional $917 million to help cushion the blow from the pandemic, and said that that any talk of an imminent bankruptcy is ‘completely off the table’.
The company’s shares, which have lost nearly half their value in the last 12 months as it was forced to shut theaters during the virus outbreak, jumped as much as 39 percent to $4.88 on Monday.
‘Today, the sun is shining on AMC,’ CEO Adam Aron said in a statement. ‘This [new financing] means that any talk of an imminent bankruptcy for AMC is completely off the table.’
By: Keith Griffith
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