Evan Agostini/Invision/APThe nation's largest movie theater chain also said in an earnings report Wednesday evening that it lost some $946 million in the last quarter of 2020 alone.
"As we sit here today, we see that vaccinations are occurring in the United States at a brisk clip, our theatres in New York City have finally opened with theatres in Los Angeles likely opening shortly as well, blockbuster movie titles are currently scheduled to be released in significant quantity in the coming few months, and we have more than $1 billion of cash on hand," Aron said in a statement.
"Since March of 2020, we have raised approximately $2.2 billion of gross cash proceeds from new debt and equity capital, securing more than $1 billion of concessions from creditors and landlords, raising more than $80 million from asset sales and seeing $600 million of convertible notes convert from debt to equity," Aron stated.
I can’t say I feel sorry fir them as they are the “ Concession Gorgers”. I hope they don’t try that “ We have to increase our prices to make up for the loss of revenue during the pandemic” - “We The People” can cancel that by not returning and that must go for all businesses.
What about the stock?
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I miss going to AMC!!!😔
Trump made America the great depression.
I love going to movies, but we don’t need to anymore. It’s more fun watching snuggled in my boyfriend’s bed after a long work week.
Send the bill to China
Terrible!
Our small school _JGESA is looking to build or renovate. We could really use a measly $5 million to impact the lives of countless students.
Cant wait to go back
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In this market, that should be good news. I bet the gained ground today....just kidding. How could a company that is near bankruptcy and report billions in losses have their stock gain ground on such terrible news?
Never understood going to a theater in the first place. Spend money on your own home theater.
WELL THEYVE BEEN OVER CHARGING FOR YEARS AND YEARS...SCREWEM..
So sad!
I wonder if streaming services might have something to do with this...
It wasn't athe virus that forced anything too close, that was all done by politicians on power trips.
The virus of Covid19 rapidly changing, revolving in new environment and makes the innovation of vaccine an uphill task!! for more.. Work From Home During Covid19 Pandemic and Employees Delight For more …
I stayed unemployed for the entire 2020. I think we all are suffering. At least we care about the movie theaters. Still looking for work.
how's the stock doing?
$AMC
thanks for this news
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They just need to open in China. I heard that Hollywood and movies are thriving there.
Do you think this is what people really need right now?
Think they should have a streaming service?
AMC is Chinese Gov-owned. So, they’re getting COVID relief money from the $2Trillion American tax payer money? Great job, Nancy!
A box of Junior Mints will now be $800.