Largest movie theater chain claims huge losses
The losses of the largest cinema chain in North America and in the world - AMC Theaters due to the outbreak of a new type of coronavirus and restrictions imposed by the authorities are already in the billions of dollars. According to the report of the parent structure of AMC Entertainment, which is referred to by the publication Deadline, losses for the first quarter will be from 2.1 to 2.4 billion dollars. At the same time, at the end of 2019, the company was counting on profit in the amount of about one billion dollars. “We believe, but cannot guarantee, that the movie industry will ultimately recover and benefit from the constrained social demand for entertainment outside the home as government restrictions are lifted and forced isolation at home ends. However, the end result, including the degree of negative impact on our financial and operating results, will depend on the yet unknown duration of the overall impact on the economy, as well as on the flexibility of government regulations, '' the company said in a statement. Recall that AMC Theaters previously was forced to lay off most of the staff. It has been speculated that the company will be forced to file for bankruptcy by mid-June. The Topic of Article: Largest movie theater chain claims huge losses. |
