Chuck E. Cheese May Be Closing Soon Due to Increasing Financial Strain

Post date:



Businesses of all sizes across the country have been hit hard by the COVID-19 pandemic, including Chuck E. Cheese, a food-and-games entertainment space that has gone hand-in-hand with childhood since the late 1970s.

CEC Entertainment, the brand behind the establishment, is approximately $1 billion dollars in debt, according to the Wall Street Journal (WSJ). The business has been trying to get $200 million loan to stay afloat.

On Friday, June 12, CEC Entertainment announced it would be offering top executives retention bonuses, paying close to $3 million total to three of them, including $1.3 million to CEO David McKillips, according to the company’s Securities and Exchange Commission filing.

Chuck E. Cheese currently has 610 locations across 47 states. Due to closures on account of the pandemic, the brand underwent layoffs in March, The Takeoff reported. According to the WSJ, in April…

Continue Reading Source


Please enter your comment!
Please enter your name here




‘How Do Other Parents Do it All?’ Working Mom Asks If Her Crazy-Busy Schedule is Normal

The pandemic has put an entirely new set of stressors on working parents—but even pre-COVID, it was nearly impossible to fit everything into...

15 Employee Appreciation Gifts That Will Make Your Coworkers Feel Special

Now that many of us are working remotely, it's not quite as easy to maintain the connections and relationships we once had in...

10 Things to Do Before + After to Maximize a Workout

Exercise: love it or hate it, we can all agree that if you’re going to spend the time to do it, you better...