By Jill Goldsmith The world’s largest theater chain may face a cash crunch, forcing it to sell assets or raise dilutive financing as the exhibition business is in an uphill battle against the spreading coronavirus The theater industry was already facing a tough 2020 before Covid-19 hit, noted analyst Alan Gould of Loop Capital.
AMC Entertainment’s recently sinking stock reflected fears that came to a head this weekend. The box office plunged, big cities like New York and Los Angeles ordered theaters closed.
The chain said Monday that for theaters still open it would be adopting CDC recommendations to limit auditoriums to 50 people.
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