AMC, the largest movie theater chain in the United States, said this week that there are chances that it may not survive the coronavirus pandemic. The Covid-19 virus is the reason behind temporarily shutting down the theaters throughout the world.
As far as reports are to be considered, AMC owns more than 1,000 theaters in Europe and the United States. The company recently had an interaction with our news sources and conveyed that it has enough cash to reopen its theaters this summer as planned. But if somehow, the theatres won’t reopen this summer, the company will not be able to borrow the money required for the same, the largest movie theater chain in the United States added.
The report also raises concerns regarding film delays and studios exploring the release of more movies to viewers via the web. AMC said people might be fearful of going to theatres. The business hopes the need to remove themselves from society is transient and that people want to go back to the films.
“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 is controlled by Chinese conglomerate Dalian Wanda.
Michigan Gov. Gretchen Whitmer today announced that film theaters on the North Low Peninsula and Upper Peninsula could be reopened on Wednesday, June 10, with capacity limits. However, the rules differ throughout the world. Theater in Texas can hold a capacity of 25 percent. New York City has not started to reopen, nor is California in this reopening phase.
Recently, Michigan health experts interacted with the leading news channels and shared that opening movie theatres are a moderate-risk environment, and it will increase the spread of the coronavirus.
Theaters were provided 6 out of 10 by a panel of 4 experts, where 10 was the riskiest figure. Reduction in theatrical risk factors means separation of seating, masking, and limiting the ability to stand up and walk through other people, experts said.