AMC is planning and believing to re-open its theatres in July after having a heavy loss as per reports. In a quick call earlier the CEO, Adam Aron stated that he is expecting almost 97% of the firm US franchise to open back by July after they shut down its cinemas in March due to COVID-19.
AMC has 1000 Cineplexes and about 11,000 screens across the world. The latest study states that movie lovers are not fully ready to be back. But the firm is completely dependent on the number of people to earn its profit after losing a sum of $2.2 billion in the first quarter.
Basically there was no profit towards the end of March as per sources. The company is anticipating making it in July and huge thanks to movies like Tenet helmed by Christopher Nolan and Disney’s live-action Mulan which is remade.
Speaking on this Adam said: “We believe there will be a significant pent-up demand to get back into the world.” But his belief is sulked by the recent 8-K filing that cautioned “substantial doubt” preceding its operation and AMC might not be able to open it again within the desired timeline.