AMC Theaters, that are also owned by a CHINESE COMPANY is close to BANKRUPTCY

AMC Theatres is on the brink of bankruptcy as coronavirus puts movies on pause.

The cinema giant, which brought in a total revenue just over $1.4 billion in the fourth quarter last year, announced in mid-March that it would close its doors nationwide for between six to 12 weeks in compliance with federal directives to help stop the spread of COVID-19.

The Centers for Disease Control and Prevention has urged U.S. residents to stay home as much as possible and keep a social distance of at least 6 feet if they must go outdoors.

“Without a doubt, major disruptions will hit the movie theater business,” Chris Fenton, a film producer and author of “Feeding the Dragon,” told FOX Business. However, he said, “AMC is facing an even worse problem.”

www.foxbusiness.com/lifestyle/amc-close-to-bankruptcy-as-coronavirus-puts-movies-on-pause