Posted on 06/24/2020 8:32:21 PM PDT by Enlightened1
The coronavirus pandemic could spell the end of Chuck E. Cheese. The popular kid’s restaurant had to close its 610 locations nationwide during the outbreak. Now, $1 billion in debt has Chuck E. Cheese’s parent company, CEC Entertainment, approaching bankruptcy.
The Wall Street Journal reports that CEC is asking lenders for a $200 million to keep its business going. For comparison, the news is similar to the recent circumstances that led to the retail band JC Penney filing bankruptcy last month.
CEC has also offered its top executives retention bonuses to try and keep them from leaving, including $3 million to three of its executives, according to the Wall Street Journal.
The news comes after CEC admitted in April it was considering refinancing, restructuring, or even bankruptcy following the coronavirus pandemic given how much the restaurant industry has struggled. This after Chuck E. Cheese laid off 17,000 employees in March.
Chuck E. Cheese’s website currently lists three locations in the Cleveland area, including one in Parma, one in North Olmsted and one in Mayfield Heights.
(Excerpt) Read more at cleveland.com ...
Did you get pink eye?
yeah, i took some astragalus and ginseng just thinking about that fact
Showbiz was better. Better pizza and an animatronic band. Chuck E. had the bigger (noisier) play area—and either they bought out or outlasted Showbiz.
Finally some good news in this whole disaster
The government with his stupid totalitarian mandates are complete assholes
Hands, mouths, shoes, socks, dirty clothes, and more in the ball pit.
Bad Pizza or not, who would have thought that forcing businesses to close for months would have disastrous effects?
I remember going to the Cheesie Chucker’s in Waldorf, MD a couple of times for my kid’s birthday parties in the 90’s. They had some fun there, but quickly out grew going to it for their birthdays.
Spot on.
This is great news. This company was clearly ‘woke’ and should suffer the consequences of its corporate decisions.
JoMa
Your mom was doing you a favor. I wouldnt take my kids there either. Dirty diapers were often found in those ball pits. The McDonalds playGround is another germ factory.Cheap food draws kids and families to places where they dont have money for cleaning services.The employees were rude to kids too.
NOOO! where will all the family feuds occur?
I was at a kids party at a farm that had a great way of reassuring people they weren’t recycling food: The children enjoyed bringing unfinished pizza to the pigpen and watching them eat it!
Poor Barack...he’ll have to find another location for his birthday parties.
Debt destruction
Followed by asset destruction
We face a dark future without chucky cheese, who help our children learn how to play nice
Seinfeld, bubble boy clip
https://www.youtube.com/watch?v=_SULQSL4Cd0
You must have developed an immune system like Hercules.
Waffle House.
I used to work in a building next door to one. It was an absolute zoo. Spoiled kids running wild inside while the moms sat at tables getting drunk.
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