“They’ve taken on a lot of debt and it’s the only way to survive,” said Thomas Hayes, chairman and managing member of Great Hill Capital.
“They’re going to have to continue to raise capital to service all this debt to survive and it doesn’t look that promising.”At the end of September, AMC’s liabilities were $11.79 billion, which included corporate borrowing of $5.2 billion. Cash and cash equivalents were at $684.6 million, a fall from $1.59 billion a year ago.
The company, which operates over 900 theaters globally, has a market capitalization of $2.74 billion.
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