Adam Aron, CEO of the world’s greatest chain of theaters – AMC Amusement Holdings, disclosed Tuesday that the enterprise had elevated $200 million in funding, but the proceeds were nonetheless $550 million limited of the focused $750 million threshold, reviews CNBC.
What Took place: The pandemic forced the theatre chain into a hard cash crunch. In December, CNBC documented that the enterprise requires to protected an further $750 million to meet its liquidity prerequisite in 2021.
Speaking about the shortfall, Aron mentioned that “We will need to elevate more, but we’re doing the job difficult to do that, and we have laid out a plan and a blueprint to get there. Whether or not we get there or not, only time will notify,” CNBC quoted.
AMC secured $a hundred million in credit card debt resources very last month from Mudrick Money Administration — an occasion-driven expense company specializing in