Chicago & Midwest + Midwest | June 4, 2020

AMC Theatres Has “Substantial Doubt” About Staying in Business

AMC Theatres, the world’s largest movie theater chain, said it has “substantial doubt” over whether it can remain in business following the COVID-19 pandemic. The Leawood, KS-based company suspended operations at all 630 U.S. theatres in mid-March and is projecting first-quarter losses of up to $2.4 billion.

“We believe we have the cash resources to reopen our theatres and resume our operations this summer or later,” the company said in a regulatory filing. “Our liquidity needs thereafter will depend, among other things, on the timing of a full resumption of operations, the timing of movie releases and our ability to generate revenues.”

If AMC doesn’t resume operations within its estimated timeline, “we will require additional capital and may also require additional financing if, for example, our operations do not generate the expected revenues or a recurrence of COVID-19 were to cause another suspension of operations,” according to the filing.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).