Chuck E. Cheese Files Bankruptcy
Chuck E. Cheese is filing for bankruptcy protection. If you’re thinking that the filing is because of COVID-19 think again. The chain had money woes before the pandemic, but the pandemic made the chain’s problems even deeper. Out of the 555 Chuck E. Cheese chains, 266 restaurants are still open and the plan is to continue opening stores.
At this time the company is in debt by $2 billion and $.7 billion in assets. Franchised restaurants aren’t part of the bankruptcy filing.