The world’s biggest movie theater chain could be in big trouble.
AMC Theatres said on Wednesday that there is a “substantial doubt” that the company can stay in business.
The reason is simple. With movie released halted and locations shut down because of coronavirus, there is no revenue coming in.
Even when restrictions are lifted across the country, there will not be new movies to show for a bit since productions have stopped to deal with the pandemic. AMC will continue to monitor “various government operating restrictions.”
The world's biggest movie theater chain, which closed locations around the globe earlier this year due to the coronavirus pandemic, expects to have lost between $2.1 billion and $2.4 billion in the first quarter. https://t.co/i8A7t5PJUm
— CNN (@CNN) June 3, 2020