AMC Entertainment Holdings Inc.’s executives are focused on raising enough capital to keep the struggling theater chain afloat until summer, when they believe a COVID-19 vaccine and a backlog of blockbuster films will reverse its fortunes, Bloomberg News reported. The world’s largest cinema chain said yesterday that it has enough cash to last until early 2021, assuming attendance remains at its current, modest level. Chief Executive Officer Adam Aron said he’s talking with more than a dozen strategic investors about potential equity investments, as well as current lenders to shore up its liquidity until summer. “It all really comes down to one thing: We believe that we will need to raise more capital,” Aron said on a call with analysts after reporting a third-quarter loss of $905.8 million, or $8.41 a share. The Leawood, Kansas-based company said yesterday that its revenue tumbled to $119.5 million in the third quarter, plunging from almost $1.32 billion a year ago. While it has reopened 540 of its 600 locations in the U.S., they’re typically no more than 20 percent full and operating only on the weekends to save money.
