Chuck E. Cheese files for bankruptcy

[Stevicus]

Pandemic takes a bite, Chuck E. Cheese files for bankruptcy

Chuck E. Cheese - where kids could be kids while parents nursed headaches - is filing for bankruptcy protection.

The 43-year-old chain, which drew kids with pizza, video games and a singing mouse mascot, was struggling even before the coronavirus pandemic. But it said the prolonged closure of many outlets due to coronavirus restrictions led to Thursday's Chapter 11 filing.

CEC Entertainment Inc. has reopened 266 of its 555 company-operated Chuck E. Cheese and Peter Piper Pizza restaurants as restrictions ease, but it's unclear how willing parents will be to host birthday parties and other gatherings. The Irving, Texas-based company said it will continue to reopen locations and offer carryout and delivery while it negotiates with debt and lease holders.

CEC and its franchisees operate 734 restaurants in 47 states and 16 countries. Franchised locations aren't included in the bankruptcy filing, the company said.

CEC listed nearly $2 billion in debt and $1.7 billion in assets in its bankruptcy petition, which was filed with the U.S. Bankruptcy Court in southern Texas.

The coronavirus continues to take its toll on the economy. I saw in another link that Macy's is cutting thousands of jobs. Macy's layoffs: Retailer cuts 3,900 corporate and management jobs

This article details the major companies which are filing for bankruptcy this year: Household-Name Companies That Have Filed for Bankruptcy Because of Coronavirus

April
Diamond Offshore and Whiting Petroleum: The two oil companies cited a steep decrease in demand during lockdown and the oil price war between Saudi Arabia and Russia.

May
J.Crew: The Times called J.Crew the coronavirus’s “first major retail casualty” when its parent company filed for Chapter 11 protection in early May. The company has said “day-to-day operations” will continue.

Gold’s Gym: The gym chain proactively closed 30 company-owned gyms in April before declaring for bankruptcy in May. It said the decision will not “prevent us from continuing to support our system of nearly 700 gyms around the world.”

Neiman Marcus: After years of building an unsustainable debt burden, Neiman Marcus was brutalized by the coronavirus, which caused all of its 43 stores to temporarily close. The luxury chain is now considering closures around the country, including in Manhattan, where it opened a three-story, 188,000-square-foot behemoth at Hudson Yards just last year.

J.C. Penney: Prior to coronavirus, the footprint of the once-iconic mall retailer had fallen to less than a quarter of what it was in 2001. After its mid-May bankruptcy filing, it’s going to fall more. The company is planning to shutter 154 stores.

Hertz: If no one is traveling, no one needs to rent a car. Car rental giant Hertz was dealt a “rapid, sudden and dramatic” blow by the coronavirus, the company said in May, leading to the biggest bankruptcy filing of 2020.

Tuesday Morning: Pandemic-inspired shutdowns created an “insurmountable financial hurdle” for the off-price retailer, which is planning to close more than 200 of its 700 stores.

PQ New York: The owner of Le Pain Quotidien closed all 98 of its U.S. locations during the pandemic and sold them to another restaurant company that will reopen 35 of the locations and, presumably, close the rest.

June
GNC: The 85-year-old vitamin retailer saw 30 percent of its stores in the U.S. and Canada temporarily close during the height of the pandemic. The “dramatic negative impact” of these closures led to a bankruptcy filing in late June. Roughly 20 percent, or 1,200 of its 5,800 retail stores will close.

24 Hour Fitness: After its bankruptcy filing on June 14, 24 Hour Fitness will transition 133 of its locations to Zero Hour Fitness. That is to say, they’re closing.

Chuck E. Cheese: On the same day that CEC Entertainment, which owns 550 Chuck E. Cheese and Peter Piper Pizza locations, reopened 266 venues, it also filed for bankruptcy. The company said the filing will allow it to “strengthen our financial structure as we recover from what has undoubtedly been the most challenging event in our company’s history.”

Throughout much of my life, I've discussed and debated with capitalists/conservatives who kept saying "don't worry, be happy" and that "everything is fine and will continue to be fine." The trade deficit never mattered to them, the budget deficit never mattered to them, and the national debt never mattered either - since the assumption was that the economy would keep growing and everything would be fine.

But it's clear that they never really planned for a rainy day. They were only interested in immediate gratification and short-term gain and didn't think much about the future. That's why we're only a few months into this thing, and major companies are starting to drop like flies.

 

[exchemist]

Pandemic takes a bite, Chuck E. Cheese files for bankruptcy



The coronavirus continues to take its toll on the economy. I saw in another link that Macy's is cutting thousands of jobs. Macy's layoffs: Retailer cuts 3,900 corporate and management jobs

This article details the major companies which are filing for bankruptcy this year: Household-Name Companies That Have Filed for Bankruptcy Because of Coronavirus



Throughout much of my life, I've discussed and debated with capitalists/conservatives who kept saying "don't worry, be happy" and that "everything is fine and will continue to be fine." The trade deficit never mattered to them, the budget deficit never mattered to them, and the national debt never mattered either - since the assumption was that the economy would keep growing and everything would be fine.

But it's clear that they never really planned for a rainy day. They were only interested in immediate gratification and short-term gain and didn't think much about the future. That's why we're only a few months into this thing, and major companies are starting to drop like flies.

Rather unfortunate that a thread titled "Chuck E Cheese" appears right after one titled "Shrug, Vomit or Panic". I can recall from my time in Houston a fair amount of cheese that made you want to chuck.

 

[Revoltingest]

Pandemic takes a bite, Chuck E. Cheese files for bankruptcy



The coronavirus continues to take its toll on the economy. I saw in another link that Macy's is cutting thousands of jobs. Macy's layoffs: Retailer cuts 3,900 corporate and management jobs

This article details the major companies which are filing for bankruptcy this year: Household-Name Companies That Have Filed for Bankruptcy Because of Coronavirus



Throughout much of my life, I've discussed and debated with capitalists/conservatives who kept saying "don't worry, be happy" and that "everything is fine and will continue to be fine." The trade deficit never mattered to them, the budget deficit never mattered to them, and the national debt never mattered either - since the assumption was that the economy would keep growing and everything would be fine.

But it's clear that they never really planned for a rainy day. They were only interested in immediate gratification and short-term gain and didn't think much about the future. That's why we're only a few months into this thing, and major companies are starting to drop like flies.

All capitalists thought that way?
I must not be one then.

 

[Brickjectivity]

All capitalists thought that way?
I must not be one then.

How can you be both Libertarian and Capitalist? That's a mixture of two impure things.

Anyways I remember going to a Chuck E. Cheese birthday party. I loved the video games, but the noise was unpleasant. The employees were not working in sane conditions. The pizza flavor was boring. As an adult I have twice been back in there, and its a recipe for a headache.

 

[Revoltingest]

How can you be both Libertarian and Capitalist? That's a mixture of two impure things.

Au contraire!
Libertarianism & capitalism go together like bacon & eggs.
Besides, I'm not into "purity"... whatever that is.

Anyways I remember going to a Chuck E. Cheese birthday party. I loved the video games, but the noise was unpleasant. The employees were not working in sane conditions. The pizza flavor was boring. As an adult I have twice been back in there, and its a recipe for a headache.

Never been to one.
I plan to keep my perfect record.

 

[Father Heathen]

How can you be both Libertarian and Capitalist?

Because libertarians are capitalist by definition (fiscally conservative and socially liberal).

 

[ChristineM]

Rather unfortunate that a thread titled "Chuck E Cheese" appears right after one titled "Shrug, Vomit or Panic". I can recall from my time in Houston a fair amount of cheese that made you want to chuck.

I am informed there are some very nice cheeses in America.

From my experience "Shrug, Vomit or Panic" is about right

 

[Revoltingest]

I am informed there are some very nice cheeses in America.

From my experience "Shrug, Vomit or Panic" is about right

Some people aren't aware that there's more to Ameristan than....

This is just as there being more to France than eating snails
in a heavy cream sauce at a Jerry Lewis film festival.

 

[sun rise]

All capitalists thought that way?
I must not be one then.

You're the one that introduced the word 'all'. What you quoted did not specify 'all' or 'some' and was therefore vague.

 

[Revoltingest]

You're the one that introduced the word 'all'. What you quoted did not specify 'all' or 'some' and was therefore vague.

I saw the vagueness too.
Did you notice my question mark?

 

[ChristineM]

Some people aren't aware that there's more to Ameristan than....

This is just as there being more to France than eating snails
in a heavy cream sauce at a Jerry Lewis film festival.

Oh there are lots and lots if good things about american (you for example). Cheese is not one of them

 

[Revoltingest]

Oh there are lots and lots if good things about american (you for example). Cheese is not one of them

If one expands one's horizons beyond Cheeze Whiz, one might be surprised.
Btw, I once sat next to a Frenchman on a flight back from Eurostan. We talked
about food, & he said that Ameristanian food had far better variety...more
interesting than in Frenchieland.

 

[Stevicus]

All capitalists thought that way?
I must not be one then.

I didn't say "all."

 

[Stevicus]

Some people aren't aware that there's more to Ameristan than....

This is just as there being more to France than eating snails
in a heavy cream sauce at a Jerry Lewis film festival.

 

[Revoltingest]

I didn't say "all."

Thus answering my question about the extent of the claim.

 

[ChristineM]

If one expands one's horizons beyond Cheeze Whiz, one might be surprised.
Btw, I once sat next to a Frenchman on a flight back from Eurostan. We talked
about food, & he said that Ameristanian food had far better variety...more
interesting than in Frenchieland.

I am not that into steaks so big they can't be eaten, ,'tiz a waste and fast food is a no, no. Other than that, and the typical cheese i am ok with American food.

You told me the story of the Frenchman. It's my view he was just trying to make you feel good.

 

[Revoltingest]

I am not that into steaks so big they can't be eaten, ,'tiz a waste and fast food is a no, no. Other than that, and the typical cheese i am ok with American food.

You told me the story of the Frenchman. It's my view he was just trying to make you feel good.

I haven't had a steak in several decades. Can't even remember the last time.
But I can understand your not liking them....all covered in buttery cream sauce....ugh!
Frenchie said you just can't get good BBQ, Tex-Mex, pho, dian xin, etc, etc.
Tis a little country afflicted with a sameness all over.

 

[ChristineM]

I haven't had a steak in several decades. Can't even remember the last time.
But I can understand your not liking them....all covered in buttery cream sauce....ugh!
Frenchie said you just can't get good BBQ, Tex-Mex, pho, dian xin, etc, etc.
Tis a little country afflicted with a sameness all over.

France is definitely lacking in America staples (i have no problem with that) but Macdonald's has a good foothold here.

I was in Paris when the very first MacDonalds opened. Traffic stopped as 2 tractors chugged towards the restaurant, each reversing their trailer to the 2 doors and dumping their loads of steaming cow dung in the entrance. French farmers were not fans of the concept.

Today there is at least one franchise in any decent sized town and they are the most popular restaurants in France, well they have the most customers anyway.

There is a very good Thai restaurant only 20 minutes drive from us, and in the time we have lived here several Asian restaurants have opened. Unfortunately no Indian withing a reasonable distance.

 

[Revoltingest]

France is definitely lacking in America staples (i have no problem with that) but Macdonald's has a good foothold here.

I was in Paris when the very first MacDonalds opened. Traffic stopped as 2 tractors chugged towards the restaurant, each reversing their trailer to the 2 doors and dumping their loads of steaming cow dung in the entrance. French farmers were not fans of the concept.

Today there is at least one franchise in any decent sized town and they are the most popular restaurants in France, well they have the most customers anyway.

There is a very good Thai restaurant only 20 minutes drive from us, and in the time we have lived here several Asian restaurants have opened. Unfortunately no Indian withing a reasonable distance.

I went to a McDonalds once a couple decades ago.
It was to get the short lived McLean Deluxe...an ordinary beef
(mostly...who knows what the other stuff was....some veggie
filler) burger with onion & tomater on it. No special sauce.
Not greasy. It was serviceable.

 

[ChristineM]

I went to a McDonalds once a couple decades ago.
It was to get the short lived McLean Deluxe...an ordinary beef
(mostly...who knows what the other stuff was....some veggie
filler) burger with onion & tomater on it. No special sauce.
Not greasy. It was serviceable.

I just remembered, i went in one once. Traveling to france the ferry was due to leave at 8:30 so we hit Newhaven at around 6am. It was the only place open and served bacon and egg on a bun. Did you know that they can rear pigs to produce round bacon just the right size to fit a bun.