According to the Dayton Daily News, the parent company of Chuck E. Cheese has filed for Chapter 11 reorganization bankruptcy “in order to overcome the financial strain resulting from prolonged COVID-19 related venue closures” and to restore the kids-entertainment-and-pizza chain to a position of long-term success, according to a release from CEC Entertainment, Inc.
All across the country, similar newspaper articles are popping up with a hint of sadness for a provider of childhood memories, pizza, and whack-a-mole – all affected by coronavirus.
- What is the name of the parent company?
- What was the major financial problem that it has encountered since COVID-19 hit in March this year?
- How many locations does it have and where are they located?
- How many locations does it plan to close?
- How old is the Chuck E. Cheese chain?
Bomey, N. (2020) Chuck E. Cheese, Peter Piper Pizza parent company files for Chapter 11 bankruptcy protection amid pandemic closings. USA Today, June 25 (Retrievable online at https://www.usatoday.com/story/money/2020/06/25/chuck-e-cheese-files-bankruptcy-peter-piper-pizza-chapter-11/3256152001/)
Fisher, M. (2020) Chuck E. Cheese files for bankruptcy, closes 3 Ohio locations. The Dayton Daily News, June 29 (Retrievable online at https://www.daytondailynews.com/news/local/chuck-cheese-files-for-bankruptcy-closes-ohio-locations/McDoI64zDkHgPZ7m0UAlNI/)