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The coronavirus pandemic threw in more

challenges. U.S. cinemas shut down in March,

so their owners haven’t been taking in money.

Hollywood halted film production, which is

likely to delay movies once theaters reopen and

may limit consumer eagerness to spend money

at the multiplex. The pandemic has prompted

entertainment companies to release some

movies directly to consumers, raising concerns

that more will bypass theaters in the future.

And when theaters do reopen, it’s not clear how

many customers will want to be in enclosed,

crowded spaces for hours at a time.

AMC, the largest U.S. chain, said it has enough

cash to reopen its theaters this summer as

planned. But if it’s not allowed to reopen, it will

need more money, which it may not be able

to borrow. Film delays are another concern.

AMC noted that people may be afraid to go

to theaters, but hopes the desire for social

distancing is temporary and that people will

want to go to the movies again.

“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, controlled by Chinese conglomerate

Dalian Wanda, has 1,000 theaters in the U.S.

and Europe.

Cinemark, another major movie chain that is

on more solid financial footing, plans to begin

reopening U.S. movie theaters on June 19. It

said in a Wednesday filing that it believes it has

enough cash to last it the rest of the year, even

if its theaters remain shut. The company’s CEO,

Mark Zoradi, said he doesn’t expect the industry

to return to normal until 2022.

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