Chuck E. Cheese Officially Files For Bankruptcy
Chuck E. Cheese’s parent company, CEC Entertainment, filed for Chapter 11 bankruptcy protection on Thursday (June 24th) after suffering major “financial strain” as a result of the COVID-19 pandemic. The company is taking the opportunity to reorganize their business strategy while continuing to reopen and operate many of their other dining establishments, including the Peter Piper Pizza chain.
“The Chapter 11 process will allow us to strengthen our financial structure as we recover from what has undoubtedly been the most challenging event in our company’s history and get back to the business of delivering memories, entertainment and pizzas for another 40 years and beyond,” David McKillips, the chief executive of CEC, said in a statement.
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On Wednesday, June 24th, CEC Entertainment reopened 266 of their Chuck E. Cheese and Peter Piper Pizza locations, which is roughly half of their 555 company-owned restaurants. According to their statement, these restaurants will continue to offer dine-in, delivery and carry-out services, and host birthday…