Coronavirus may put the world’s largest theater chain out of business. Blaming the far-reaching impact of Covid-19, AMC Theatres told regulators today that it cannot predict if or when business will return to normal, and said loans may not be enough to cover its cash-flow needs.
“We may not be able to obtain additional liquidity and any relief provided by lenders, governmental agencies, and business partners may not be adequate and may include onerous terms,” the 8K filing stated. “Due to these factors, substantial doubt exists about our ability to continue as a going concern for a reasonable period of time.”
AMC Theaters currently operates 996 theatres and 10,993 screens in 15 countries. In the U.S., AMC has 630 theatres with 8,048 screens. In the first three months of 2020, AMC reported a net loss of somewhere between $2.12 billion and $2.42 billion. In the same period of 2019, it reported a net loss of $130.2 million. It...
“We may not be able to obtain additional liquidity and any relief provided by lenders, governmental agencies, and business partners may not be adequate and may include onerous terms,” the 8K filing stated. “Due to these factors, substantial doubt exists about our ability to continue as a going concern for a reasonable period of time.”
AMC Theaters currently operates 996 theatres and 10,993 screens in 15 countries. In the U.S., AMC has 630 theatres with 8,048 screens. In the first three months of 2020, AMC reported a net loss of somewhere between $2.12 billion and $2.42 billion. In the same period of 2019, it reported a net loss of $130.2 million. It...
- 6/3/2020
- by Dana Harris-Bridson
- Indiewire
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