Chuck E Cheese, the restaurant chain that became a holiday for children and a headache for many of their parents, is filing for bankruptcy protection.
Parent company CEC Entertainment has reopened 266 of its 612 company-operated Chuck E Cheese and Peter Piper Pizza restaurants.
It did not elaborate on how willing parents are to again host birthday parties and other gatherings with so many cities still under tight restrictions on crowds.
CEO David McKillips said Thursday in press release that it has been “the most challenging event in our company’s history.”
“The Chapter 11 process will allow us to strengthen our financial structure as we recover from what has undoubtedly been the most challenging event in our Company’s history and get back to the business of delivering memories, entertainment, and pizzas for another 40 years and beyond,” said McKillips in the release. “I am incredibly proud of what the CEC team has achieved over the past year as we launched the All You Can Play value gaming platform, expanded our remodel program, and found new ways to engage with families while our venues were closed. I’m confident in the strength of our team and our world-class brands and look forward to more fully implementing our strategic plan as we put these financial challenges behind us.”