Update 10/21/20: AMC Theatres has issued another warning that they might have to file for bankruptcy if they’re unable to raise more money from a new share sale.
Regal Cinemas recently closed all their locations indefinitely, presumably because closing outright would save more cash than actually remaining open but with few moviegoers.
Both AMC Theatres and the parent company of New York & Company have submitted filings to the SEC warning that they might have to enter bankruptcy protection. Like other movie theater chains and other retailers that have a large presence in shuttered shopping malls, it’s not too surprising that this is something that could happen in the future, although neither company appears to have immediate plans for filing for bankruptcy protection.
It’s something to be aware of though, especially in case we see one or both companies selling their gift cards on the cheap in order to get a quick cash injection.
[…] few weeks ago we shared the news that New York & Company had submitted filings with the SEC warning investors of the risk of […]