Coronavirus: Cinema giant AMC says it may go out of business

nme.com:

There is "significant doubt" that the chain can "continue as a going concern for a reasonable period of time" AMC, the largest cinema chain in the United States, says it may go out of business due to the coronavirus pandemic.

The chain announced yesterday (June 3) that it expects to record losses of $2.4 billion in the first quarter of 2020. As The Hollywood Reporter writes, the company have expressed “substantial doubt” over whether it can “continue as a going concern for a reasonable period of time”. “We continue to manage proactively our cash resources to control our monthly cash spend rate.

At the same time, we have begun to ramp up our cash spend with the intention of reopening theatres this summer,” AMC said in a statement. “We