AMC announced that it plans to reopen its movie theaters globally sometime in July.
The company has taken a huge hit during the coronavirus pandemic, which required movie theaters across the world to shutter as countries fought to reduce the number of infections by imposing lockdowns and stay-at-home measures.
AMC said Tuesday that it would reopen almost all of its U.S. and U.K. theaters in time for the July 17 release of Christopher Nolan’s Tenet and Disney’s Mulan, which is set to open on July 24, according to Reuters.
The Washington Examiner reached out to AMC for comment. The move comes after uncertainty about the future of the company because of the global health crisis.
In early April, Wall Street analysts predicted the theater chain might have to declare bankruptcy due to the COVID-19-related closures.
“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 in a report.
The theater operator recently seemed uncertain about its future when it expressed “substantial doubts” that it could continue operations should its theaters be told to close for a longer period of time due to the pandemic. The company’s revenue fell more than 21% in the quarter ending on March 31.
