Jun
04
2020

AMC begs for summer re-opening.

They are sounding… not exactly alarmist. AMC has plenty to be alarmed about. More like slightly panicky:

AMC, the largest U.S. chain, said it has enough cash to reopen its theaters this summer as planned. But if it’s not allowed to reopen, it will need more money, which it may not be able to borrow. Film delays are another concern. AMC noted that people may be afraid to go to theaters, but hopes the desire for social distancing is temporary and that people will want to go to the movies again.

“Due to these factors, substantial doubt exists about our ability to continue as a going concern for a reasonable period of time,” AMC wrote in a regulatory filing. The publicly traded company, controlled by Chinese conglomerate Dalian Wanda, has 1,000 theaters in the U.S. and Europe.

Cinemark is planning to reopen in mid-June and Regal hasn’t said. I’m not overly fond of AMC theaters, but this is not a great time to be somebody who likes to see movies on the big screen, let me tell you. And I don’t know when I’m going to get a chance to do that again.

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