Pedestrians move a Cineworld Group Plc cinema in Aldershot, U.Okay., on Monday, Oct. 5, 2020.
Jason Alden | Bloomberg | Getty Images
AMC mentioned it’s not in talks to amass theaters from Regal guardian firm Cineworld, which had filed for chapter safety earlier this yr.
Cineworld, which relies within the United Kingdom, had been in discussions with AMC at hand over a few of its theaters after submitting for Chapter 11 chapter in September.
In a submitting with the Securities and Exchange Commission on Wednesday, AMC mentioned the discussions with Cineworld lenders concerning belongings within the U.S. and Europe had ended. The disclosure comes after AMC reported one other quarterly loss final month regardless of a rise in income, because the theater chain spent greater than it introduced in.
The world’s largest movie show firm has been attempting to cut back its debt hundreds, which have been exacerbated in the course of the pandemic when folks hunkered down at dwelling and streaming providers boomed. Even as viewers attendance has rebounded extra lately, the disruption of film manufacturing over the previous two years has left theater operators comparable to AMC hurting for brand spanking new releases to spice up ticket gross sales.
The outlook for 2023 seems extra promising, with a wholesome slate of extremely anticipated new releases.
Read the complete SEC submitting right here.