Cinema giant AMC Theatres disclosed Wednesday that it expects its first-quarter financials, which were during the second half of March hit by the shutdown of its circuit, to include a loss of up to $2.4 billion, driven by a big impairment charge amid the novel coronavirus pandemic.
The company also said there was "substantial doubt" about its ability to "continue as a going concern for a reasonable period of time." The "going concern" phrase is a warning that a company could eventually have to file for bankruptcy and go out of business.
Wedbush Securities analyst Michael Pachter told THR in a first reaction that the news "shouldn’t be" surprising to investors given recent Wall Street debate about the company's liquidity. "When they drew on.
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