Movie theater chains are staring down an unprecedented crisis, as pandemic shutdowns are forcing operators in some areas to close while awaiting local authorities’ COVID-19 guidance.
So it was no surprise that when Marcus Corp. — the fourth-largest circuit in the U.S., with 1,110 screens in 17 states — reported its latest financials on Nov.
3, CFO Doug Neis told investors the pandemic had led to “the two worst quarters we’ve ever experienced in our 85-year history.” Marcus stock fell 58 percent in 2020, while the nation’s largest chain, AMC, dropped 71 percent and rival Cinemark closed off at 49 percent.
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