AMC Movie Theaters Has 'Substantial Doubt' About Its Future



AMC may not be coming back from this. The movie theater chain, which shuttered all its locations amid the coronavirus pandemic, said in a filing with the Securities and Exchange Commission Wednesday that it has "substantial doubt" it can survive,CNBCand theWall Street Journalreport. "We are generating effectively no revenue," it said in the filing, which included preliminary earnings results showing that it expects to have lost $2.1 billion to $2.4 billion during the first quarter that ended March 31, and that its revenue fell to $941.5 million, a drop of almost 22% from the $1.2 billion in revenue during last year's first quarter.

Read more here>>>


Photo: Getty

106.1 The Breeze · Philly's Relaxing Favorites

Listen Now on iHeartRadio