AMC Sets Sights on Reopening in July

AMC, the world's largest movie chain, has announced it will reopen its theaters around the world in July, according to a company release. 

The coronavirus pandemic shut down theaters globally as countries put stay-at-home orders in place.

On Tuesday, AMC said it will reopen nearly all of its theaters in the U.S. and U.K. in time for the July 17 release of Christopher Nolan's "Tenet" and the July 24 opening of Disney's "Mulan."

This news comes after experts suggested in April the cash-strapped AMC might file for bankruptcy after rolling global lockdowns forced the chain to temporarily shut its doors.

“Based on our view that theaters will be closed until at least August and our belief that AMC lacks the liquidity to stay afloat until that time, we expect the company will soon be faced with filing for bankruptcy,” MKM Partners analyst Eric Handler said.

Last week, AMC said it had "substantial doubts" that it could continue operating if coronavirus-related shutdowns continued to prevent theaters from reopening.

AMC's revenue sank by more than 21% in the year's first quarter.

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