One of the most disappointing things for film fans throughout the Coronavirus pandemic has been the closure of movie theaters. In fact, one of the biggest movie theaters chains – AMC Theatres – might be in trouble even long after the Coronavirus pandemic will have passed. According to a new financial report from AMC Theatres, they’ve announced some severe losses and revenue drops that might spell out “substantial doubt” for their viability in the future.
Here’s what AMC Theatres, via ScreenRant, had to say regarding their potential inability to stay open past the Coronavirus pandemic.
“If we do not recommence operations within our estimated timeline, we will require additional capital and may also require additional financing if, for example, our operations do not generate the expected revenues or a recurrence of COVID-19 were to cause another suspension of operations. Such additional financing may not be available on favorable terms or at all. Due to these factors, substantial doubt exists about our ability to continue as a going concern for a reasonable period of time.”
It’s definitely disappointing news to here, and things can only get imaginably worse from here. For example, because of the closure for movie theaters, many film studios have been delaying and postponing their upcoming movie releases. This means that even if AMC Theatres were to reopen, there likely wouldn’t be enough content to screen that would allow them to make a profit.
It’s also incredibly painful to see the state that AMC Theatres is residing in, because they’re such a massive movie theater chain. If they’re having difficulties withstanding the Coronavirus pandemic, then it’s more than likely most if not all other movie theaters will as well.
Hopefully things will look up in some way or another, and that movie theaters will somehow be able to return to a state of normality when this is all over.