AMC Theatres has 'substantial doubt' it can remain in business

  • 📰 CNN
  • ⏱ Reading Time:
  • 23 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 95%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

The world's biggest movie theater chain, which closed locations around the globe earlier this year due to the coronavirus pandemic, expects to have lost between $2.1 billion and $2.4 billion in the first quarter.

New York AMC Theatres, the world's biggest movie theater chain, said on Wednesday that it has"substantial doubt" it can remain in business after closing locations across the globe during the coronavirus pandemic.

The theater chain, which closed its theaters earlier this year, expects to have lost between $2.1 billion and $2.4 billion in the first quarter. The company also said that its revenue fell to $941.5 million, which was down roughly 22% from $1.2 billion in the same quarter last year. This quarter, the situation has gotten substantially worse."We are generating effectively no revenue," the company said in a regulatory filing Wednesday.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Oh fuck they're gonna have to charge $40 for popcorn now

Why don't the Hollywood elite bail them out...they're having no issue profiting from this revenue source?

That's because they want $51.50 for a small popcorn.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 4. in NG

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

AMC Entertainment Sees Massive Q1 Losses Of Up To $2.4B On Writedowns In Preliminary Earnings ReportGiant exhib AMC Entertainment said it expects to report ballooning losses of between $2.1 and $2.4 billion for the first quarter ended in March on one-time charges compared with losses of $130 mill…
Source: DEADLINE - 🏆 109. / 63 Read more »

After a rush for more small business funding, PPP loan money remains untappedMore than a month into round two of the Paycheck Protection Program, there's more than $120 billion still left unallocated for small businesses. Better to allocate and not spend it. Watch Democrats try to take it and hand to corrupt, poorly-run, blue-state governments, pay for abortions, and leftist media. “Mr Wonderful”: Buy $GLD If you’re looking to invest in forex,bitcoin investments and make more money I would recommend Mrs Lisa to you ,I was really amazed when I got my first profit in 7 days of trading I can’t stop spreading the good news thank you ma’am...you can reach her on WhatsApp on +12132243837
Source: CNBC - 🏆 12. / 72 Read more »