AMC Theatres Will Remain Open Amid Regal and Cineworld Shutdown

Also Read: AMC's Stock Surges 22% on New York Theaters ReopeningAMC said it had $417.9 million in cash on hand at the end of September 2020.

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The Prime Minister’s official spokesman said: “The purpose of the Very High (Tier 3) level is to allow for local, tailored interventions and they are determined on the basis of discussions with local authorities and based on local evidence.

The other day, AMC Theatres released an SEC filing that basically said the company is going to run out of cash by the end of 2020 or early 2021 if the box office doesn’t improve over the next few months. And guess what? With “Soul” moving to Disney+, “Coming 2 America” heading to Amazon, and the major studio offerings for the next couple of months reduced to about four films (for now), things aren’t looking great for theater owners.

Also Read: AMC's 'Soulmates' Co-Creator Says 'Quantum Physics' Behind Soulmates Test Actually Checks OutWithout a major uptick in attendance or an injection of new funding, the company said, “existing cash resources would be largely depleted by the end of 2020 or early 2021. … to meet its obligations as they become due, the Company will require additional sources of liquidity or increases in attendance levels.

Movie theater giant AMC Theatres said on Tuesday that its "existing cash resources would be largely depleted by the end of 2020 or early 2021" if current trends persist.

Just last week, after the surprise shutdown of Cineworld (and thus, Regal Cinemas locations) in the US and UK, AMC Theatres came out and told everyone that things should be just fine and the world’s largest cinema chain had no plans to shut down its theaters. Well, it appears that the CEO might have been speaking a bit too optimistically, as new statements from AMC point to a company on the verge of collapse.

“Given the reduced movie slate for the fourth quarter, in the absence of significant increases in attendance from current levels or incremental sources of liquidity, at the existing cash burn rate, the Company anticipates that existing cash resources would be largely depleted by the end of 2020 or early 2021. Thereafter, to meet its obligations as they become due, the Company will require additional sources of liquidity or increases in attendance levels.

Brent Lang Executive Editor of Film and MediaAMC Theatres is in danger of running out of cash by the end of the year or by early 2021 if moviegoers don’t return to cinemas in greater numbers, the world’s largest exhibitor warned in public filings on Tuesday.The theater chain noted that attendance at the 494 of its 598 U.S. locations that it has opened in recent weeks is down approximately 85%.

decided to temporarily close 536 Regal cinemas in the US and 127 Cineworld and Picturehouse venues in the UK. The chain cited the delay of the new James Bond flick for its decision, as the majority of blockbusters slated for 2020 have been pushed into next year. There are 500 fewer theaters open in the US since the pandemic began, as movie houses in major markets like New York and Los Angeles remain closed.

AMC Theatres said Tuesday it is not currently planning to close any of its movie theaters that have reopened, in part because of the leeway provided by an unprecedented premium VOD deal it recently signed with Universal. The announcement came a day after rival Cineworld said it is going to shut all of its cinemas in the U.K.

With yesterday’s confirmation from Cineworld, the parent company of Regal Cinemas, that the company would be closing all of its US and UK movie theaters “until further notice,” film fans (and box office analysts) feared the worst. When would AMC follow suit? And would this be the final nail in the coffin of theater exhibition in 2020 (and possibly forever)? Well, AMC isn’t ready to close its doors.

The 2020 theatrical release calendar is getting even slimmer in the wake of the announcement that Regal cinemas are temporarily closing, although AMC, North America's largest theater chain, says it will remain open.Warner Bros. said late Monday that its sci-fi pic “Dune” will now open in October 2021, instead of this December.

Rebecca Rubin Film and Media ReporterAMC Theatres on Tuesday pledged not to close any of its movie theaters that have reopened, despite headwinds that the exhibition industry has faced during the pandemic and the lack of new Hollywood movies on the horizon.The announcement was made the day after rival cinema chain Cineworld, which operates Regal in the U.S., reported plans to temporarily shutter all 536 locations on Thursday, citing the “challenging theatrical landscape.” Cinemark, another

Anthony D'Alessandro Editorial Director/Box Office EditorIn the wake of Cineworld’s decision to shutter its UK venues and Regal U.S. theaters, AMC, the No.

Anthony D'Alessandro Editorial Director/Box Office EditorCinemark, the No. 3 theatrical exhibitor in the U.S, has confirmed that they’re currently planning to stay open during the pandemic.

Cinema giant Cineworld — the second largest global exhibitor behind AMC — early Monday morning London time confirmed that it is temporarily suspending its operation in the U.S. and U.K.

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