The popular children’s restaurant, Chuck E. Cheese could be filing for bankruptcy after 43 years in business and is in danger of closing all 610 of its locations across 47 states.
Chuck E. Cheese’s parent company, CEC Entertainment, is $1 billion in debt and is seeking a $200 million loan to stay in business. Since March, the chain has had to lay off 17,000 employees and tried clever ways to keep business going like listing themselves as Pasqually’s Pizza & Wings on Grubhub.
In April, CEC also mentioned they were looking at bankruptcy, refinancing, and restructuring the business in the wake of the spread of COVID-19. NOOOO! But I just learned the dance!!!!