I don't think you know how bankruptcy works. The company would have filed for Chapter 11 bankruptcy which would allow for the company to reorganize. The reason why a company would need to do this is because the owe too much to the there creditors( banks, bondholders) and basically don't have enough cash on hand to pay the interest and payments when due. Chapter 11 allows for the company to take equity from the shareholders and basically dilutes there shares to nothing which would allow them to pay there creditors back. Creditors have first rights in bankruptcy because they are providing the company with a loan that basically uses a the company as collateral. Shareholders don't have rights and thus have more risk. The company would still exists as a chapter 11.
But I would suggest read before writing inaccurate information. You ain't doing anyone a service.
AMC is a public company
When a stock price goes to zero the company is bankrupt, the hedgefunds were trying to accomplish, because if they happens they won't have to pay taxes on any of the money they made shorting the stock
AMC would have to act as private company, and not file for bankrupt, in that event