"While it is impossible to predict how long this crisis will last and how significant the impact will be on our business, we know guests miss the magic of the big screen and sound", Chief Executive Officer Ellis Jacob said in the quarterly statement on Monday.
Editor's Note: An earlier story on BNNBloomberg.ca incorrectly stated Cineplex had secured $250 million in new funding from its lenders. The company shut all of its venues on March 16 and most remain closed, though it plans to open some outlets in six provinces starting on Friday.
Shares of the Toronto-based company plunged as much as 23% and finished the day down 19% to close at C$8.05, the lowest closing price since its 2003 initial public offering.
Worldwide movie theatre chain Cineworld PLC called off its deal to buy Cineplex for $2.8 billion earlier this month but the Canadian firm vows to sue over damages. Cineplex denied the claims and says it will file suit against Cineworld "in the near term".
So far, opening dates have not been announced for other Halifax Cineplex theatres like Park Lane and Lower Sackville, or Cineplex locations around the province like Sydney, Truro, New Minas or Yarmouth.
Revenues decreased 22.4 per cent to $282.8 million from $364.6 million as attendance plunged to 10.7 million from almost 15 million.
"As a result of Cineworld's repudiation of the arrangement agreement, we focused on working with our financial partners to ensure that our long-term liquidity needs are met", Jacob said in the statement.
Cineplex spokesperson Sarah Van Lange said every other row of their theatres will be empty and available seats will be in pairs "with proper physical distancing in all directions", with auditorium capacity reduced by 60 to 80 per cent.