AMC, Movie Theater Stocks Fall on Report Cineworld Plans to File for Bankruptcy
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AMC Entertainment stock was down 7% in early trading Friday. Angela Weiss / AFP via Getty Images
AMC Entertainment, Cinemark, and other movie theater stocks tumbled on Friday after The Wall Street Journal reported that Cineworld Group was getting readyt to file for bankruptcy.
The British cinema company, which owns Regal Cinemas, on Wednesday said that despite recovering attendance, admissions have stayed below expectations due to a limited slate of films to watch. It is now evaluating strategic options to generate liquidity and restructure its balance sheet, the company said.