It could be lights out for the movie theater business if Congress doesn’t pass the trillion-dollar coronavirus rescue bill. That’s the stark message from John Fithian, president and CEO…
, taking a break from working the phones in Washington D.C., where he’s been busy pressing his case to lawmakers.
Fithian, who leads the exhibition industry’s main lobbying arm, hopes that the final legislation will include provisions for federal loan guarantees, as well as expanded unemployment benefits and cash payments to the 150,000 cinema workers who have been furloughed.chief said theaters are struggling to remain solvent without any income. Even though workers have been let go, these theaters still have to pay rent and utilities and they may face bankruptcy without government aid.
“Most of these theaters, not all of them, but most of them, will go bankrupt if this does not pass,” said Fithian. “If this goes through, it will provide a whole lot of help to industries that need it like restaurants and bars and bowling alleys and retailers.” “Loan guarantees are literally what can keep companies alive so we can bring back workers when the virus is over,” said Fithian. “We want the government to help workers directly so they can pay rent and buy groceries while this is going on, but we also need help to survive so we will be there on the other side with a job for them.”
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