Chuck E. Cheese and GNC have filed for Chapter 11 bankruptcy, victims of the coronavirus, writes Noah Manskar for nypost.com and Paul J. Gough for Pittsburgh Business Times, as reported in the Philadelphia Business Journal.
Chuck E. Cheese’s parent company, CEC Entertainment, filed June 24 after temporarily closing most of its eateries because of the pandemic.
GNC Holdings Inc., parent company of GNC, filed June 23.
Chuck E. Cheese has a restaurant/arcade on Baltimore Pike in Springfield offering carry out and deliver.
The dining room, closed since March, will reopen soon once health safety guidelines are in place.
The bankruptcy “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 and get back to the business of delivering memories, entertainment, and pizzas for another 40 years and beyond,” CEO David McKillips said.
Initial local GNC store closings from the bankruptcy include Springfield Mall and the Edgmont Square Shopping Center in Newtown Square.
GNC indicated the bankruptcy process could lead to an outright sale of the company. It planned to continue operations even as it closes stores as part of its reorganization.
Read more about the Chuck E. Cheese Chapter 11 filing here.
Read more about the GNC Chapter 11 filing here.
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