Money Makers Mentor

Chuck E. Cheese Parent Company Files for Chapter 11 Bankruptcy

CEC Entertainment, the parent company of the popular children’s dinner and entertainment restaurant Chuck E. Cheese, filed for Chapter 11 Bankruptcy on Thursday, June 25th. The company listed nearly $2 billion in debt and $1.7 billion in assets following its bankruptcy filings.

The Chuck E. Cheese franchise had already been in decline before the pandemic. The company reported a net loss of around $29 million last year, and $20.4 million in 2018. CEC Entertainment faces liabilities ranging from $1 to $10 billion. Ultimately, the prolonged restaurant closures led to its inevitable bankruptcy in June.

CEO of the company, David McKillips, made a public statement announcing the Chapter 11 filings will “strengthen our financial structure as we recover from what has undoubtedly been th…

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