Quote:
Originally Posted by BzsBimmer
Here's my take on PLAY. Social distancing and germaphobia will eat into their profits.
They're probably considered anchor tenants due to their sq ft and they also need quite a few direct labor expense to run the store chasing people down, wiping machines, etc.
Also their venue space will be under utilized due to group restrictions and also company retreats being severely reduced.
IF they have enough cash on hand to weather the storm ($20MM), they may get back to some semblance of normal but I don't see it happening. I'd imagine they're going to go under bankruptcy protection in the near future like Chuck E Cheese did.
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Well, they've got $157M in cash and are burning about $14M per month according to Q1 report.
All else being equal, they can survive for 11.2 months from Q1, which was 3 months ago, so assume 8.2 months from today.
Yea, doesn't sound good, lol.