After rumors floated around for weeks, the parent company of Chuck E. Cheese’s has filed for Chapter 11 bankruptcy protection.
CEC Entertainment blames the COVID-19 pandemic for the extended closure of its restaurants and entertainment areas.
By filing for bankruptcy, CEC hopes the company can successfully find a financial plan that “supports its re-opening and longer-term strategic plans.”
About half of Chuck E. Cheese’s 555 locations have reopened across the country as restrictions on in-restaurant dining have lifted in many states.
Chuck E. Cheese parent CEC Entertainment filed for Chapter 11 bankruptcy, making it the latest casualty of the COVID-19 pandemic that has crushed entertainment and leisure industries globally https://t.co/VxFGHtvYz2
— Reuters Business (@ReutersBiz) June 25, 2020