Movie theater chain AMC warned Wednesday that it may not survive the coronavirus pandemic, which has shuttered its theaters and led film studios to explore releasing more movies directly to viewers over the internet.
All of AMC's theaters are shut down through June, which means the company isn't generating any revenue. AMC said it had enough cash to reopen its theaters this summer, as it plans to do. But if it's not allowed to reopen, it will need more money, which it may not be able to borrow.
The company said that even when local governments allow theaters to reopen, AMC may still have problems if entertainment companies delay releasing new films.
"Due to these factors, substantial doubt exists about our ability to continue as a going concern for a reasonable period of time," AMC wrote in a regulatory filing.
And people may not want to go sit in crowded spaces because they fear the virus. AMC believes that desire for More