CEC Entertainment, who is the parent company of both Chuck E. Cheese and Peter Piper Pizza, recently filed for Chapter 11 bankruptcy protection, and now they've revealed the full list of leases they are planning to reject. 11 of those locations were locations that had already closed before the coronavirus pandemic required more closings and the full list features locations all across the United States. Some of the bigger hotspots for closings are California, Florida, Massachusetts, Ohio, and Oklahoma, and you can find the full list of closed and closing locations below (via USA Today).
"Subject to ongoing negotiations with its landlords, the Company expects to maintain ongoing operations in these locations throughout the Chapter 11 process, providing dine-in, delivery and carry-out services, hosting birthday parties during dedicated hours, and supporting fundraisers and events in the coming weeks and months," CEC said in a statement. "The Company also plans to continue opening additional locations each week, steadily bringing more employees back to work."
Here are all the locations that have either already closed or will be closing and seeking lease rejections.
Oklahoma City-Del City
CEC also requested permission to honor game credits, tickets, tokens, gift cards, discount offers, loyalty accounts, and more during the bankruptcy protection process, as they want to use those to help put them in a better position after everything is settled so they can resume business.
"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," CEO David McKillips said in a statement.
CEC Entertainment says that they expect to use Chapter 11 to restructure their debt and set a long term strategy, and it will continue to reopen locations. Earlier this year there were potential buyers interested in purchasing the company, though it probably wouldn't be for near the $948 million Apollo purchased CEC Entertainment for back in 2014.1comments