AMC Entertainment Wants Back Now Bankrupt Theaters It Was Forced To Sell In Carmike Merger

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AMC Entertainment wants to buy back and revive a handful of bankrupt theaters that are staggering like the rest of the industry under little to no revenue. AMC, pushed by the Department of Justice,…

Cinemas, a financial vehicle created to receive them. But New Vision in July started liquidation proceedings in Georgia state court after defaulting and abandoning its leases. Under the terms of the original divestiture, AMC either remained financially liable in the event of default by New Vision or had expressly guaranteed the obligations of New Vision, the court document said.

“This modification to the Final Judgment will achieve two outcomes that are in the public interest: it will continue to enhance output by providing the opportunity for theatrical exhibition to continue at certain locations at a time when most theatrical exhibition companies are closing locations and not looking to expand operations; and it will permit AMC to negotiate a new lease and operate a theatre at affected locations, providing the landlords with much needed revenue to help mitigate the...

AMC asks the court “to modify the Final Judgment entered in this case,” saying “this relief is sought because of unforeseen and unique changed circumstances that have arisen from the ongoing COVID-19 pandemic.”

 

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