SAN FRANCISCO—On Wednesday, May 3, the American movie theater company AMC announced that their theater locations in Emeryville and San Francisco could close permanently due to the COVID-19 pandemic.
A statement released by AMC on Wednesday said it has “substantial doubt” that the company can remain in business after the pandemic has forced all its locations to close. In a regulatory filing, AMC said the company “is generating effectively no revenue.”
There are various AMC locations across the San Francisco area, including in Emeryville, Newark and Brentwood. There are also two in downtown San Francisco, and various others scattered across the Bay Area. AMC warns that these locations could close if they continue to generate no revenue.
Movie theaters across the country have been shut down since March, and Hollywood has halted film production and been delaying the release of recent blockbuster films. Even if movie production begins again and films hit theaters during reopening, it is unknown if customers would feel willing to to be in an enclosed and potentially crowded space. The company fears they will face more competition if people decide to continue watching films on streaming services at home.
AMC has said it has enough cash to reopen its theaters this summer, but if it’s not allowed to reopen, the company will need more money but may not be able to borrow.