AMC Theaters is said to be in talks with Weil, Gotshal & Manges to try to resolve a Chapter 11 bankruptcy report, Market Watch. Specifically, a source told the news agency that they are working with lead lawyer Ray Schrock and “you don’t hire Ray unless you testify. “
Such a case would help the theater try to manage its massive $ 4.9 billion in debt while trying to reopen successfully at the same time.
Cinemas in North America have been closed since mid-March and a reopening date remains to be determined. AMC, the largest American movie chain, closed its 630 movie theaters on March 17 and put 25,000 workers on leave. The chain also allegedly stopped paying rent to the owners
AMC was optimistic about the possibility of reopening during the month of June, but it is unclear if this will happen at this time. All the big studios have withdrawn and postponed their big release dates in spring and summer. DC and Warner Bros. Pictures are believed to hold on to their planned Wonder Woman 1984 release date for August.