(AP) – Chuck E. Cheese 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.
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.
No official word how this will impact the Peoria location in the West Lake Shopping Plaza.
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 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” said CEO David McKillips in a prepared statement.
Chuck E. Cheese got its start in 1977, when Atari co-founder Nolan Bushnell opened Chuck E. Cheese’s Pizza Time Theatre in San Jose, California.
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