AMC Entertainment shares plummeted Thursday after the theater chain indicated in an SEC filing that it’d promote as much as $250 million value of its inventory.

The Leawood, Kan.-based exhibition large stated it was contemplating promoting the inventory to offset its poor field workplace income throughout the first fiscal quarter of 2024. Hours after the submitting got here out Thursday morning, AMC stock was down about 15%.

In the submitting with the Securities and Exchange Commission, the nation’s largest movie show firm partly blamed the disappointing field workplace returns on last year’s writers’ and actors’ strikes, which delayed a number of main theatrical releases and successfully shut down movie and TV manufacturing for about six months.

AMC Chief Executive Adam Aron previously implored the leisure unions and the Hollywood studios to finish their labor disputes “immediately” to mitigate the “collateral damage from these lengthy work stoppages.”

The exhibitor additionally cited within the SEC submitting “increased seasonal working capital requirements … and the resulting cash burn” it has suffered.

“We intend to use the net proceeds, if any, from the sale … to bolster our liquidity, to repay, refinance, redeem or repurchase our existing indebtedness (including expenses, accrued interest and premium, if any) and for general corporate purposes,” the submitting reads.

The starting of 2024 spelled trouble for AMC and other cinema operator as big-budget studio automobiles comparable to Sony Pictures’ “Madame Web” and Apple’s “Argylle” tanked and home field workplace income fell 20% from the earlier yr. Scattered titles comparable to Paramount Pictures’ “Bob Marley: One Love” and “Mean Girls” made first rate cash. But pickings remained pretty slim till March, when Warner Bros. and Legendary’s “Dune: Part Two” opened with greater than $80 million within the U.S. and Canada, the primary film to take action in 4 months.

The exhibition trade was nonetheless recovering from the COVID-19 pandemic — which shuttered theaters worldwide — when members of the Writers Guild of America and the Screen Actors Guild-American Federation of Television and Radio Artists went on strike.

In response to the overlapping work stoppages, studios pushed at the least a dozen footage to 2025 from 2024, together with the eighth installment in Paramount’s “Mission: Impossible” franchise and Disney’s live-action remake of “Snow White.” Consequently, this yr’s launch calendar is thinner than exhibitors had hoped.

Analysts anticipate full-year field workplace income for 2024 to fall someplace between $8 billion and $8.5 billion within the United States and Canada, which might be down from 2023’s $9-billion home haul — regardless of a slew of extremely anticipated sequels and franchise installments on the horizon.

Still to come back in 2024 are Universal Pictures’ “Wicked,” Warner Bros.’ “Furiosa: A Mad Max Saga,” Paramount’s “Gladiator 2,” Sony’s “Venom: The Last Dance,” Amazon MGM’s “Challengers” and Disney’s “Deadpool & Wolverine.”