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AMC renting out theaters for $99 amid pandemic recovery plans - Fox Business

AMC renting out theaters for $99 amid pandemic recovery plans - Fox Business

AMC renting out theaters for $99 amid pandemic recovery plans - Fox Business
Oct 16, 2020 52 secs

Market data provided by Factset.

The price for rental goes upwards to $349 depending on the movie chosen by the group and the theater location, AMC states on their website.

AMC THEATERS INK DEAL TO HELP IT SURVIVE PANDEMIC.

AMC Theaters are offering individuals rooms for rent to customers as a coronavirus relief plan (AMC).

The newest initiative comes while the theater company tries to recover from the hit it took from shutting down amid the coronavirus pandemic.

The movie theater giant has reopened 494 of its 598 U.S.

At the company’s current cash-burn rate, reserves would be depleted by the end of this year or early next year, the Kansas-based company said.

As governments enforced limits on indoor businesses and people avoided large gatherings, the coronavirus pandemic wrought havoc on movie theaters when it arrived in the U.S.

AMC Theatre attence has dropped 85% since last year (AP Photo/Keith Srakocic).

The company said it has already raised approximately $37.8 million through an at-the-market offering of nine million shares.

Market data provided by Factset

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