Reorg Webinar Series: Movie Theater Options to Avoid Restructuring While Waiting for Return of Blockbusters


On Friday, Oct. 30, Reorg discussed the large movie theater credits – Cineworld, AMC Entertainment, Cinemark and Marcus – and these companies’ liquidity options as they try to manage cash burn in the face of theater closures and limited new releases.

Movie theaters have been forced to close for much of the duration of the Covid-19 pandemic, leading to high cash burn as companies deal with zero revenue while continuing to manage fixed costs. Some theaters have stated that opening theaters can lead to higher cash burn as studios have delayed releases of a number of films into next year limiting theater revenue, while costs increase due to labor and utility costs plus the added costs of heightened safety measures from Covid-19.

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