AMC, the largest movie theater chain in the world, could be out of cash by the end of 2020

Movie goers watch a film at the AMC Highlands Ranch 24 on August 20, 2020 in Highlands Ranch, Colorado.

(Image credit: Tom Cooper/Getty Images)

published 13 October 2020

The largest movie theater chain in the world is warning it could be out of cash by the end of 2020 or early 2021 as the industry is hit hard by the coronavirus pandemic.

AMC Theatres offered this bleak assessment of its financial state on Tuesday after movie studios in recent weeks have increasingly scrapped plans to release big blockbusters in theaters this year, CNN and Variety report.

Subscribe to The Week

Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

SUBSCRIBE & SAVE

https://cdn.mos.cms.futurecdn.net/flexiimages/jacafc5zvs1692883516.jpg

Sign up for The Week's Free Newsletters

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

After AMC closed its U.S. locations in March due to the COVID-19 pandemic, it reopened them where possible in anticipation of Christopher Nolan's Tenet in September, only for that film to disappoint at the domestic box office. Since then, as upcoming tentpoles like No Time to Die are delayed to 2021, the second-largest movie theater chain in the United States, Regal Cinemas, has decided to close its U.S. locations again. AMC has not yet made a similar move.

Explore More

Brendan worked as a culture writer at The Week from 2018 to 2023, covering the entertainment industry, including film reviews, television recaps, awards season, the box office, major movie franchises and Hollywood gossip. He has written about film and television for outlets including Bloody Disgusting, Showbiz Cheat Sheet, Heavy and The Celebrity Cafe.

Subscribe to The Week

Sign up for The Week's Free Newsletters

Sign up for Today's Best Articles in your inbox