Chuck E. Cheese In Danger Of Filing For Bankruptcy And Could Close All Locations

The chain is looking for a loan

June 11, 2020
Chuck E Cheese

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According to a new report from the Wall Street Journal, Chuck E. Cheese could be filing for bankruptcy after 43 years in business and is in danger of closing all 610 of its locations across 47 states.

The family entertainmen center's parent company, CEC Entertainment, is reportedly $1 billion in debt and is seeking a $200 million loan to stay in business. Chuck E. Cheese has already had tot lay off 17,000 employees since March and has tried clever ways to keep business going like listing themselves as Pasqually's Pizza & Wings on Grubhub.

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In April CEC also mentioned that they were looking at bankruptcy, refinancing, and restructuring the business in the wake of Coronavirus pandemic.

For more head to People.