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.
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