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Chuck E Cheese files for Chapter 11 bankruptcy protection - Business Insider

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Chuck E. Cheese files for Chapter 11 bankruptcy protection after much speculation over the children's dinnertainment chain's looming demise

last three years

, Chuck E. Cheese has gone through several unsuccessful IPO attempts and has tried to modernize its image by overhauling its restaurants' aesthetic, only to be hit with sweeping pandemic-related shutdowns in March. And in April, the company, facing mounting debt, started restructuring in an attempt to mitigate some of its spiraling losses. Then, in May, it came to light that Chuck E.

A Chuck E. Cheese spokesperson had told Business Insider that Pasqually's Pizza was a separate, delivery-only brand that sold slightly more upscale pizzas made with different ingredients than Chuck E. Cheese's pizzas. Unfortunately, that delivery-oriented Hail Mary came too late for CEC Entertainment. With one in five restaurantsdue to the pandemic, Charles Entertainment Cheese and his animatronic friends had the cards stacked against them from the beginning. Dinnertainment, a once-burgeoning genre of restaurant, is simply one of many dine-in concepts that are ill-prepared to survive the takeout-oriented restaurant landscape carved by the pandemic.

However, bankruptcy doesn't mean that Chuck E. Cheese restaurants will close in the near future. CEC Entertainment plans to continuefrom Business Insider Intelligence on how COVID-19 is impacting businesses.Get a personalized selection of top stories daily based on your preferences. Sign up now.

 

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Now things are getting serious

Most of these businesses, Chuck E Cheese included, were already spiraling downwards. COVID just accelerated bankruptcy timing.

I hope someone buys out the brand and is able to restart it up and create something much bigger & better.

I’ve only been there once or twice.

Dang! Is Like every other day a company is doing this😮

Chuck E. Cheese filed for Chapter 11? EricTrump will be crushed.

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