The world’s largest theater chain warns that it may have to file bankruptcy soon.
ACM Theaters disclosed in a filing Tuesday with the Securities and Exchange Commission that it has a deal for additional sources of liquidity.
That deal is with CitiGroup Global Markets and Goldman Sachs to sell 15 million shares.
The theatre says if the agreement does not pan out it could likely face Chapter 11 bankruptcy.
Earlier this month, AMC announced it could run out of money by the end of the year.
Despite these challenges, the movie theater chain has said it will remain open.