![AMC Theatres Says It Has ‘Substantial Doubt’ About Its Future](https://townsquare.media/site/442/files/2020/03/amc-theatres.jpg?w=980&q=75)
AMC Theatres Says It Has ‘Substantial Doubt’ About Its Future
It’s been pushed off the front pages in recent days by other urgent issues, but the coronavirus has not gone away. Thousands around the country are still sick, and many businesses are still shuttered — including most movie theaters. Most of the big exhibitor chains have said they hope to resume something like regular business in July, when Disney is scheduled to release Mulan and Warner Bros. hopes to premiere Christopher Nolan’ Tenet. But with much of the country still under various stay-at-home orders, there’s still a lot of doubt about that.
According to Variety, the nation’s biggest theater chain has doubt too — about its own ability to stay in business. In “public filings” this week, AMC Theatres stated it had “ ... substantial doubt exists about our ability to continue as a going concern for a reasonable period of time.”
This declaration came as the company announced it had lost more than $2 billion in the first quarter of 2020:
That is largely attributable to a $2 billion impairment charge related to the coronavirus shutdown. Net losses for the quarter increased to $224.5 million, up from $101.8 million in the prior-year period, while revenue fell to $941.5 million, down from $1.2 billion in the same quarter in 2019.
The company did state that they they did “believe” they would reopen its theaters later this summer. But there’ uncertainty about that as well, and they added that they “never previously experienced a complete cessation of our operations, and as a consequence, our ability to be predictive is uncertain.” AMC has already raised some $500 million in new debt during this crisis. Like they said: Substantial doubt.
Gallery — What We Miss Most About Going to Movie Theaters:
More From 98.7 The Bomb
![AMC To Charge Different Prices Based on Where You Sit in the Theater](http://townsquare.media/site/442/files/2020/08/amc-theater-marquee.jpg?w=980&q=75)
![Sister-in-Law Who Lives Rent Free With Brother Demands His Wife Pay for Wedding](http://townsquare.media/site/252/files/2022/07/attachment-httpsfiles.slack_.comfiles-priT033GCPL1-F03Q80F04DSgettyimages-1142626695.jpg.jpg?w=980&q=75)
![Woman Shamed After Giving Rescue Dog ‘Offensive’ Pandemic-Related Name](http://townsquare.media/site/252/files/2022/03/attachment-Offensive-Dog-Name.jpg?w=980&q=75)
![AMC Will Charge More For ‘The Batman’ Tickets](http://townsquare.media/site/442/files/2022/02/attachment-the-batman-img-4.jpeg?w=980&q=75)
![Woman Fakes COVID-19 to Get Out of Work, Boss Catches Her Partying](http://townsquare.media/site/252/files/2022/01/attachment-fake-covid-party.jpg?w=980&q=75)
![Grammy Awards Postponed for Second Year Due to Omicron](http://townsquare.media/site/295/files/2022/01/attachment-Grammy-Award.jpg?w=980&q=75)
![Queen Guitarist Brian May Tests Positive for COVID-19](http://townsquare.media/site/366/files/2021/11/attachment-brian_may_itv_palooza_2021.jpg?w=980&q=75)
![‘Spider-Man: No Way Home’ Has Third Biggest Opening Weekend Ever](http://townsquare.media/site/442/files/2021/12/attachment-no-way-home-1.jpg?w=980&q=75)
![One in Five Concert Ticket Buyers Reportedly No-Show](http://townsquare.media/site/295/files/2021/12/attachment-Covid-Concert.jpg?w=980&q=75)