Annelise Capossela/Axios

AMC Entertainment (NYSE: AMC) is nearing a restructuring deal that would let it avoid bankruptcy, per the Wall Street Journal.

Why it matters: AMC is the country's largest cinema chain, last year serving more than 250 million U.S. attendees, but its screens have been dark since the pandemic began.

  • More movies: AMC and other theater owners yesterday sued New Jersey's governor for blocking them from reopening. In Canada, Cineplex said it plans to raise C$275 million in new debt, as it continues a legal battle over its failed takeover by Cineworld.

The bottom line: "The proposed deal would require bondholders [including Apollo Global Management] to provide a $200 million senior loan and to swap their unsecured claims at a discount for new, second-lien debt, people familiar with the matter said. Private equity firm Silver Lake, which has a representative on the company's board and owns $600 million of convertible bonds, would swap for first-lien debt." — Alexander Gladstone, WSJ

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Remington Arms files for bankruptcy for second time since 2018

A Remington shotguns display in Dallas. Photo: Justin Sullivan/Getty Images

Remington Arms Company filed for bankruptcy protection on Monday despite a recent surge in gun sales amid the coronavirus pandemic and anti-racism protests, per the Wall Street Journal.

Why it matters: The 204-year-old firm is considered America's oldest gun-maker. Its Chapter 11 filing in the U.S. Bankruptcy Court in Decatur, Alabama, marks the second time since 2018 that it's filed for bankruptcy. Remington was facing a wrongful death lawsuit from families of the 2012 Sandy Hook school shooting victims. The second bankruptcy filing was prompted by a "struggle to pay legal fees and the high interest payments on its debt," the New York Times notes.

Flashback: What happened to Remington?

Updated 57 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Politics: Chris Christie: Wear a mask "or you may regret it — as I did" — Senate Democrats block vote on McConnell's targeted relief bill.
  2. Business: New state unemployment filings fall.
  3. Economy: Why the stimulus delay isn't a crisis (yet).
  4. Health: FDA approves Gilead's remdesivir as a coronavirus treatment How the pandemic might endMany U.S. deaths were avoidable.
  5. Education: Boston and Chicago send students back home for online learning.
  6. World: Spain and France exceed 1 million cases.

Early voting eclipses 2016 total with 12 days until election

People stand in line to vote early in Fairfax, Virginia in September. Photo: Tasos Katopodis/Getty Images

Americans have cast more than 47.1 million ballots in the 2020 presidential election, surpassing the total early-vote count for 2016 with 12 days left until Election Day, according to a Washington Post analysis of voting data.

Why it matters: The election is already underway, as many states have expanded early and mail-in voting options because of the coronavirus pandemic.

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