The exhibition sector, and particularly AMC, are under pressure to bring customers back to cinemas. Prior to coronavirus there was a great deal of consolidation in the exhibition space, much of it made possible by debt financing. AMC’s decision to acquire rivals such as Odeon Cinemas, UCI Cinemas and Carmike Cinemas left it heavily leveraged with more than $5 billion in debt. In recent filings, AMC acknowledged that the coronavirus pandemic could push it into bankruptcy. Aron expressed confidence that the theater chain would be able to avoid Chapter 11 and would be able to have enough revenue to service its debt obligations.
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