AMC Theatres Has 'Substantial Doubt' it Can Remain in Business

[DEAD7]

AMC Theatres Has 'Substantial Doubt' it Can Remain in Business


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.

AMC will continue to monitor the "potential lifting of various government operating restrictions," but added that the chain has serious challenges even if restrictions are lifted. That includes studios holding back new films from being shown. "Even if governmental operating restrictions are lifted in certain jurisdictions, distributors may delay the release of new films until such time that operating restrictions are eased more broadly domestically and internationally, which may further limit our operations," the company said. The company said that it had a cash balance of $718.3 million as of April.

 

[YaFingerDealMe]

Only theater chain I still go to.

 

[MoneyTron]

They must be leveraged to the hilt. Oh well.

 

[mastermind]

Something will replace them

People want to be in movie theaters. AMC has a clearly terrible business model.= if they can't ride this out.

 

[Poetical Poltergeist]

It's a damn shame what they did to that dog.

 

[radio rahiem]

Free market at work!

 

[Starman]

Something will replace them

People want to be in movie theaters. AMC has a clearly terrible business model.= if they can't ride this out.

What makes you so sure the movie theater industry as a whole isn't in trouble? What makes you think people still want to be in movie theaters?

I mean, I do. But I know plenty of people who don't....

 

[The ADD]

What makes you so sure the movie theater industry as a whole isn't in trouble? What makes you think people still want to be in movie theaters?

I mean, I do. But I know plenty of people who don't....

I wonder if smaller theaters with food that currently exist will be more prevalent.

 

[Domingo Halliburton]

If shyt doesnt open significantly by november theyre done.

Even then someone (amazon) will buy them out of bankruptcy banking on a reopened economy.

 

[Starman]

I wonder if smaller theaters with food that currently exist will be more prevalent.

Maybe, but it might become a high(er) end expense. And that can't last too long.

I think we were born at the right time to watch the movie industry die.

 

[DJ Paul's Arm]

I miss those days when I would intimidate the teenage ticket checker at the front talmbout "aye man I dropped my keys. I gotta find them in the theater right quick. "

"Oh ok sir go ahead."

*Proceed to theater hop and watch as many movies as a wanted.

 

[GodinDaFlesh]

People are always going to want to take their families/dates to the movies. But it depends how long movie theaters are closed. Being closed for the next couple of months will probably kill them.

 

[the cac mamba]

. AMC has a clearly terrible business model.= if they can't ride this out.

what do you think they could do better? it doesnt seem like a terribly complicated business model

seems more like another victim of technology and covid than anything else

 

[Regular_P]

Stock will probably go up tomorrow on this news.

 

[dora_da_destroyer]

Damn, that’s Q1 losses and they were open most of Q1, wonder what Q2 loss is expected to be?

and he, between studios pushing back films and states not having consistent open dates and rules, it would be hard to get movies to theaters even if they were being released.