If any company ever needed to quit the doom diet, it’s AMC. We realize time’s are challenging and they need to tell shareholders something, but does it have to be that they have “substantial doubt” their business can continue to stay afloat? I mean, really.
Negative prophetic hypotheticals aren’t even remotely encouraging for businesses.
Sure, AMC are burning cash while closed and if they open and don’t do enough business they’ll burn reserves even faster. The problem is the longer they stay closed, I’d argue, the worse it all gets.
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.AMC Theatres has ‘substantial doubt’ it can remain in business – CNN
I’ve been saying all along that they should reopen as soon as it’s safe to do so. More and more businesses are being allowed to reopen. We’re in June now, and while there are no new wide release movies available, it seems prudent to me that they should get the theaters open — again, if it’s safe to do so — then start showing movies.
Or are they literally going to wait until the week of Tenet on July 17? I’ve heard they may reopen in July, but not seen any actual date on the AMC website. Has anybody else?