COVID-19 may have killed the country’s biggest theater chain. In a new SEC filing (via Variety), AMC Theaters admitted that it wasn’t sure it could survive due to the ramifications of coronavirus, which forced the company to shutter more than 1,000 theaters and lay off hundreds of employees. Apparently, AMC hasn’t made a single cent of revenue over the last few months.
“We cannot be certain that we will have access to sufficient liquidity to meet our obligations for the time required to allow our cash generating operations to resume or normalize,” the company warned.
“We may not be able to obtain additional liquidity and any relief provided by lenders, governmental agencies, and business partners may not be adequate and may include onerous terms. Due to these factors, substantial doubt exists about our ability to continue as a going concern for a reasonable period of time.”
That sounds pretty grim, but on a positive note, AMC claims that it has enough cash left over to reopen its theaters, possibly by this summer. If it does go under, would you miss it?