Is AMC in Trouble With Lenders?
AMC Entertainment Holdings (NYSE: AMC) and its lawyers announced last week that they had reworked a debt agreement that would save the company money and put it in a better financial position. However, some lenders are fighting the move, saying it wasn't adequately explained.
AMC, the largest global movie theater operator, originally signaled signs of trouble in June when theaters had been shut down and the company wasn't taking in any revenue. Even as the economy has started up again, many theaters remain closed; those that are open have limited capacity, which means there's less money coming in per film showing.
Image source: Getty Images.
Source Fool.com
