AMC Theaters, the largest U.S. theater chain, says that they have “substantial doubt” that they can stay in business after closing over 1,000 theaters.
According to public regulatory filings that were noted by CNN, the theater chain will have lost up to 2.4 billion dollars in revenue in the first quarter. To continue for months with “effectively no revenue” could lead to bankruptcy and eventually closure. Though states are now opening back up and loosing restrictions, theaters are now faced with a small amount of new movies to screen.
The company says, “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.”