Chuck E. Cheese parent files for Chapter 11 bankruptcy amid coronavirus crisis

FILE PHOTO: A Chuck E. Cheese restaurant is pictured in Oceanside, California, U.S., January 18, 2017. REUTERS/Mike Blake

June 25, 2020

(Reuters) – Restaurant chain Chuck E. Cheese parent CEC Entertainment Inc [CEII.UL] said on Thursday the company and its domestic affiliates have filed for Chapter 11 bankruptcy as a result of the ongoing coronavirus crisis.

The company said it wants to use the process to continue talks with its stakeholders and landlords to restructure its balance sheet.

The statement, which described the current crisis as the “most challenging” in the company’s history, did not give any financial details.

Irving, Texas-based CEC was taken private by Apollo Global Management <APO.N> in 2014 for $1.3 billion, including debt.

(Reporting by Kanishka Singh in Bengaluru; Editing by Krishna Chandra Eluri)

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