AMC Theatres has 'substantial doubt' it can remain in business

[Brian in Mesa]

AMC Theatres has 'substantial doubt' it can remain in business

https://www.cnn.com/2020/06/03/media/amc-theatres-business-coronavirus/index.html

AMC Theatres, the world's biggest movie theater chain, said on Wednesday that it has "substantial doubt" it can remain in business after closing locations across the globe during the coronavirus pandemic.

The theater chain, which closed its theaters earlier this year, expects to have lost between $2.1 billion and $2.4 billion in the first quarter.

The company also said that its revenue fell to $941.5 million, which was down roughly 22% from $1.2 billion in the same quarter last year. This quarter, the situation has gotten substantially worse.

"We are generating effectively no revenue," the company said in a regulatory filing Wednesday.

 

[dreamcastrocks]

I saw this. I pretty much expected that to happen.

Couldn't be happier to be building a home theater right now.

 

[thirty-two]

Loved AMC for their recliner/assigned seating. They were the first near me to make that adjustment. I would exclusively only go to AMCs for that reason, so this is a bummer. But yeah, not planning on going to a movie let alone a sit down restaurant for awhile...

 

[Stout]

Not a surprise, but this would suck pretty bad.