[TXSTYLE]

Not surprised. They were already far behind CINEMARK in terms of quality. Might as well let Cinemark gobble them up...



https://www.marketwatch.com/story/am...?mod=home-page

https://variety.com/2020/film/box-of...ly-1234575780/

Plus Movie Theaters in general are simply too expensive and the prices of Giant TV's and even Home Theater setups have gotten much more reasonable. Simply not worth it. I would love for STUDIOS to just release everything VOD/Digital.

AMC Entertainment is inching closer to a possible bankruptcy.

The largest U.S. largest movie theater chain, whose cinema houses have been shuttered nationwide since mid-March because of the coronavirus epidemic, is in talks to hire law firm Weil Gotshal & Manges to explore a potential Chapter 11 filing, The Post has learned.

Weil Gotshal’s team is headed up by lawyer Ray Schrock, who lately has worked as bankruptcy counsel to California utility PG&E, the Fairway supermarket chain, and retail icon Sears Holdings, many of whose stores got taken over by billionaire Eddie Lampert.

The insider cautioned that “it’s early stages” and that it’s not clear whether the theater chain has hired any other advisors for the possible restructuring. Nevertheless, a bankruptcy filing looks increasingly likely as the company has already begun to skip rent across its locations, according to the source.

“You don’t hire Ray unless you are filing,” the source said. “You are not going to hire them at their hourly rate to have a beer with them.”

Representatives for AMC AMC, -21.21% and Weil Gotshal didn’t respond to requests for comment on Friday.

In the wake of the coronavirus pandemic, AMC shuttered its 630 US theaters on March 17 and furloughed 25,000 workers. AMC Chief Executive Adam Aron has recently insisted that AMC will be up and running by mid-June, but some analysts have already been predicting a bankruptcy filing in the meantime.

Last week, AMC’s lenders hired law firm Gibson Dunn & Crutcher to advise the chain on a possible restructuring, according to the Wall Street Journal. As reported by The Post, experts note that AMC, which has a debt load of $4.9 billion, is at risk of breaching its debt covenants as it burns through cash amid the coronavirus crisis.

Unless AMC can extract severe concessions from its landlords, a Chapter 11 filing may be hard to avoid, insiders say. A recent letter from senior VP Daniel Ellis informed landlords it would stop paying rent in April.

“AMC is willing to discuss with you any suggestions you may have for getting through this crisis and planning for when AMC can reopen and pay rent,” Ellis wrote in the letter.

It’s not clear how many theaters AMC would seek to close in bankruptcy, although the 275 lower-priced Carmike locations it acquired in 2016 for $1.1 billion are said to be among the laggards. With many of AMC’s movie theaters housed inside malls, analysts wondered how AMC would able to roar back to life once coronavirus quarantines begin to lift.

“Malls are all shut down,” the source said. “They will be the last to open.”

The source pointed to China, where movie theaters and restaurants have begun reopening with limited seating, putting a stranglehold on how much revenue businesses can reap.

“Every third seat is occupied in China and they are taking customers’ temperatures,” the source noted.

Another issue facing all movie theaters is the backlog of production. Most major studios have delayed the summer releases of their biggest summer blockbusters, like “Mulan,” “Fast & Furious 9” and the James Bond flick “No Time to Die.”

[BimmerDimmer6]

Fuck they better not, I'm a stub rewards member

[NEfan508]

$100+ for a family weekend movie night out... and I smuggle 20 pc McNuggets

[Murf993]

It's kind of a shame, I do like going to the movies but haven't honestly been much in the last few years. It's a great experience if you don't get some asshat in the theatre talking, texting or whatever. And I find the prices to be a bit much as NEfan508 said.

[bosstones]

Wifey and I would only go once in a great while and only for a movie we actually really wanted to see. Screen size and surround sound is far better than we have a home. 2 adults for a matinee once in a blue moon is acceptable $$$. I am old enough to know that current matinee prices are the same as regular/evening price, even from just a several years ago...

Oh, and we never go the first couple weeks of a movie.....99.9% success rate of weeding out the @$$hats in the crowd that can ruin the movie. Then again, maybe that's me self-weeding myself out for others those first few weeks.....it's all relative.

[zx10guy]

I remember one movie I went to. Some geniuses thought it was a good idea to bring their infant with them to an action movie. Of course the baby is crying due to all the loud noises. Parents did nothing. Just sat there despite everyone around glaring at them. Finally, one person had enough. Got up and came back later with a theater employee in tow. Employee has some words with the parents. The father gets up with the baby and leaves the theater. Mother dissatisfied that the world doesn't revolve around them says some choice words to the family that reported them. More words get exchanged and the family that did nothing wrong gets up and leaves.

Lately the only movies/theaters I've been to have been large blockbuster ones that the viewing is corporate sponsored. They've been held at cinema draft house type venues and I didn't have to pay a dime to include food and drink.

I also don't enjoy going to the theaters due to their sound systems. Even at the ones with the supposed latest/nicest audio systems, I can't get passed how distorted and loud they have these things tuned. My pet peeve is at many public venues people think loud is automatically better. It's not. I just don't know how people tolerate loud distorted sound that jeopardizes their hearing. My sound system at home isn't the best money can buy. But there has been careful selection of the equipment and proper tuning/setup. I'd have no issues putting up my system against systems costing many times more.

[ASAP]

Originally Posted by zx10guy

I remember one movie I went to. Some geniuses thought it was a good idea to bring their infant with them to an action movie. Of course the baby is crying due to all the loud noises. Parents did nothing. Just sat there despite everyone around glaring at them. Finally, one person had enough. Got up and came back later with a theater employee in tow. Employee has some words with the parents. The father gets up with the baby and leaves the theater. Mother dissatisfied that the world doesn't revolve around them says some choice words to the family that reported them. More words get exchanged and the family that did nothing wrong gets up and leaves.

Lately the only movies/theaters I've been to have been large blockbuster ones that the viewing is corporate sponsored. They've been held at cinema draft house type venues and I didn't have to pay a dime to include food and drink.

I also don't enjoy going to the theaters due to their sound systems. Even at the ones with the supposed latest/nicest audio systems, I can't get passed how distorted and loud they have these things tuned. My pet peeve is at many public venues people think loud is automatically better. It's not. I just don't know how people tolerate loud distorted sound that jeopardizes their hearing. My sound system at home isn't the best money can buy. But there has been careful selection of the equipment and proper tuning/setup. I'd have no issues putting up my system against systems costing many times more.

Paragraph is the sad modern world... on an airplane this boils my blood... anytime some dumb ass parents kid bangs on the bang of my seat, cries the flight, yells or whatever; I do not care about being the asshole and go straight to the parents... the few times this has happened, the FA agreed 100% w me.

[bimmer pleaser V2]

It's chapter 11 so they are just restructuring. I am guessing it mainly involves their real estate leases; they just want to get out of lease obligations now that movie theaters are closed.

Plenty of other businesses (mainly restaurants, bars, hotels... hospitality) will start going through chapter 11 or 7 as well due to inability to pay rent. Even if they open their doors today their business volume will be way lower than usual because people are still scared.

[infinitekidM2C]

AMC is the big chain in SoCal. Will be surprised but not all that worried if someone takes them over, especially if they're going to make them better as Tex suggests. I like going to the movies, but save it for movies i really want to see, so maybe 1 time a month (adding movies for the kids). But if you're complaining about the price, then just don't buy their cartel-like popcorn and soda.

[TXSTYLE]

Originally Posted by Murf993

It's kind of a shame, I do like going to the movies but haven't honestly been much in the last few years. It's a great experience if you don't get some asshat in the theatre talking, texting or whatever. And I find the prices to be a bit much as NEfan508 said.

A few years ehhh.... You won't miss them apparently.

[TXSTYLE]

Originally Posted by bosstones

Wifey and I would only go once in a great while and only for a movie we actually really wanted to see. Screen size and surround sound is far better than we have a home. 2 adults for a matinee once in a blue moon is acceptable $$$. I am old enough to know that current matinee prices are the same as regular/evening price, even from just a several years ago...

Oh, and we never go the first couple weeks of a movie.....99.9% success rate of weeding out the @$$hats in the crowd that can ruin the movie. Then again, maybe that's me self-weeding myself out for others those first few weeks.....it's all relative.

Based on the a I've, you two definitely won't miss them either.

[Murf993]

Originally Posted by TXSTYLE

A few years ehhh.... You won't miss them apparently.

So I like to go to the Bond films when they are released, I've been to most of the Star Wars movies at the theatre.....some movies just need the theatre experience. For the rest I'm pretty happy with my home theatre set up, and save the money and annoyance of the other theatre goers.

[TXSTYLE]

Originally Posted by infinitekidM2C

AMC is the big chain in SoCal. Will be surprised but not all that worried if someone takes them over, especially if they're going to make them better as Tex suggests. I like going to the movies, but save it for movies i really want to see, so maybe 1 time a month (adding movies for the kids). But if you're complaining about the price, then just don't buy their cartel-like popcorn and soda.

Plus annoying people, tight parking, etc.

[Dog Face Pony Soldier]

Originally Posted by zx10guy

II also don't enjoy going to the theaters due to their sound systems. Even at the ones with the supposed latest/nicest audio systems, I can't get passed how distorted and loud they have these things tuned. My pet peeve is at many public venues people think loud is automatically better. It's not. I just don't know how people tolerate loud distorted sound that jeopardizes their hearing. My sound system at home isn't the best money can buy. But there has been careful selection of the equipment and proper tuning/setup. I'd have no issues putting up my system against systems costing many times more.

Since my career is related to home theaters, I feel compelled to occasionally visit a proper commercial cinema to reacquaint myself with the public's experience. Because this is such a rare event for me I'll always visit a "special" venue in an attempt to observe the current state-of-the-art commercial cinemas. I always leave disappointed in the performance of the audio and video systems. I genuinely find this situation very sad. The last time I went the projector lens was so dirty it distracted me through the entire movie!

I always joke... I'll go to the cinema when they agree to pause the movie when I need to use the restroom. Until then I do it at home where I have all my comforts, privacy, and control.

[F32Fleet]

Originally Posted by Dog Face Pony Soldier

Since my career is related to home theaters, I feel compelled to occasionally visit a proper commercial cinema to reacquaint myself with the public's experience. Because this is such a rare event for me I'll always visit a "special" venue in an attempt to observe the current state-of-the-art commercial cinemas. I always leave disappointed in the performance of the audio and video systems. I genuinely find this situation very sad. The last time I went the projector lens was so dirty it distracted me through the entire movie!

I always joke... I'll go to the cinema when they agree to pause the movie when I need to use the restroom. Until then I do it at home where I have all my comforts, privacy, and control.

Perhaps you should choose a theatre with more than one seat and a newspaper lined floor?

<joking>

[smrtypants44]

I prefer AMC because their unlimited movies membership is way superior to Cinemark. And here in Tulsa, AMC is full recliners and cinemark isnt.

[Murf993]

Originally Posted by smrtypants44

I prefer AMC because their unlimited movies membership is way superior to Cinemark. And here in Tulsa, AMC is full recliners and cinemark isnt.

I can sit BUCK Nekid in a recliner in my basement and drink beer and pause the movie in my basement home theatre....probably can't in any theatre in Tulsa.....

[Turkish Pickle]

My last memorable movie experience was Atomic Blonde, im sure i've been dragged into 1-2 movies since then but I couldn't even tell you what they were.

[RickFLM4]

Originally Posted by bimmer pleaser V2

It's chapter 11 so they are just restructuring. I am guessing it mainly involves their real estate leases; they just want to get out of lease obligations now that movie theaters are closed.

Plenty of other businesses (mainly restaurants, bars, hotels... hospitality) will start going through chapter 11 or 7 as well due to inability to pay rent. Even if they open their doors today their business volume will be way lower than usual because people are still scared.

Yep, I expect more to come, unfortunately. Cheesecake Factory sent around letters saying they won’t pay their rent within a month of the crisis starting. It’s a concept that is past its prime and combined with this crisis, I wouldn’t be surprised if they go soon.