Chuck E. Cheese Is Headed Towards Bankruptcy And Might Close: Report
It might be the beginning of the end for Chuck E. Cheese. There are reports that the children’s restaurant chain might file for bankruptcy and are headed towards closing.
Per People, “The brand behind the food-and-games establishment, CEC Entertainment, is nearly $1 billion in debt and is trying to approach lenders for a $200 million loan to keep the business afloat.” They add that the Texas-based restaurant, which currently operates over 600 locations in 47 states, has had a hard time raising capital due to the coronavirus.
Chuck E. Cheese laid off over 17,000 in March when the pandemic hit.
As reported, the restaurant also made headlines last month when they masqueraded as Pasqually’s Pizza and Wings on delivery apps in hopes of getting more to-go business.
GALLERY: Cities And Landmarks That Look Deserted Because Of Coronavirus
LAS VEGAS, NEVADA - MARCH 22: The area in front of the Welcome to Fabulous Las Vegas sign, where tourists often line up to take photos, is shown empty as most businesses in the area are closed as a result of the statewide shutdown due to the continuing spread of the coronavirus across the United States on March 22, 2020 in Las Vegas, Nevada. On Friday, Nevada Gov. Steve Sisolak ordered a mandatory shutdown of most nonessential businesses in the state until April 16 to help combat the spread of the virus. The World Health Organization declared the coronavirus (COVID-19) a global pandemic on March 11th. (Photo by Ethan Miller/Getty Images)
AGRA, INDIA - MARCH 18: A deserted view of the historic monument Taj Mahal, closed for tourists to prevent spread of Covid-19, on March 18, 2020 in Agra, India. With coronavirus cases in India inching towards 150, the government has decided to keep all the public monuments and museums - including the iconic Taj Mahal and Red fort - shut until the end of this month. This is only the third time in history that the historic monument has been closed. The number of Covid-19 cases continue to rise in India which is the second most populated country in the world behind China. (Photo by Yawar Nazir/Getty Images)
CHICAGO, ILLINOIS - MARCH 19: Anish Kapoor's Cloud Gate sculpture (AKA The Bean) in Millennium Park is closed to visitors on March 19, 2020 in Chicago, Illinois. The sculpture, one of the city's most visited tourist attractions which invites a hands-on experience, has been closed to the public as the city tries to control the spread of Covid-19. (Photo by Scott Olson/Getty Images)
BARCELONA, SPAIN - MARCH 23: A man walks past closed shops on March 23, 2020 in Barcelona, Spain. The Spanish government will mobilize 200 billion euros of crisis measures to help companies and workers. Spain's Prime Minister Pedro Sanchez announced on Sunday 22 that his government will ask parliament to extend for another 15 days until April 11 the state of emergency. As part of the measures against the virus expansion the Government has declared a 15-day state of emergency. The Government of Spain has strengthened up its quarantine rules, shutting all commercial activities except for pharmacies, food shops, gas stations, tobacco stores and news kiosks in a bid to stop the spread of the novel coronavirus, as well as transport. Spaniards must stay home except to go to work but working from home is recommended, going to buy basic things as food or pharmacy products is allowed but it must be done individually. The number of people confirmed to be infected with the coronavirus (COVID-19) in Spain has increased to at least 29,909, with the latest death toll reaching 1,813 according to the country’s Health Ministry. (Photo by David Ramos/Getty Images)
BARCELONA, SPAIN - MARCH 23: Pigeons are seen on a nearly empty Las Ramblas on March 23, 2020 in Barcelona, Spain. The Spanish government will mobilize 200 billion euros of crisis measures to help companies and workers. Spain's Prime Minister Pedro Sanchez announced on Sunday 22 that his government will ask parliament to extend for another 15 days until April 11 the state of emergency. As part of the measures against the virus expansion the Government has declared a 15-day state of emergency. The Government of Spain has strengthened up its quarantine rules, shutting all commercial activities except for pharmacies, food shops, gas stations, tobacco stores and news kiosks in a bid to stop the spread of the novel coronavirus, as well as transport. Spaniards must stay home except to go to work but working from home is recommended, going to buy basic things as food or pharmacy products is allowed but it must be done individually. The number of people confirmed to be infected with the coronavirus (COVID-19) in Spain has increased to at least 29,909, with the latest death toll reaching 1,813 according to the country’s Health Ministry. (Photo by David Ramos/Getty Images)
PARIS, FRANCE - MARCH 18: (EDITORS NOTE: This image has been converted to Black and White) A man wearing a protective mask walks in front of the eiffel tower on the second day after the announcement by French President Emmanuel Macron of the confinement of the French due to an outbreak of coronavirus pandemic (COVID-19) on March 18, 2020 in Paris, France. From Tuesday, March 17 at noon for at least two weeks, the French will have to stay at home, under penalty of sanctions, unless travel is absolutely necessary, announced the head of state. President launched the war against the coronavirus and placed France in containment without ever saying the word. The Coronavirus epidemic has exceeded 7,900 dead for more than 198,000 infections across the world. (Photo by Pascal Le Segretain/Getty Images)
LUENBURG, GERMANY - MARCH 25: Empty streets in the mediaeval town on March 25, 2020 in Luenburg, Germany. Everyday life in Germany has become fundamentally altered as authorities tighten measures to stem the spread of the coronavirus. Public venues such as bars, clubs, museums, cinemas, schools, daycare centers and universities have closed. Many businesses are resorting to home office work for their employees. And travel across the border to most neighbouring countries is severely restricted. (Photo by Stuart Franklin/Getty Images)
ROME, ITALY - MARCH 13: Castel S.angelo is seen completely empty on March 13, 2020 in Rome, Italy. Rome's streets were eerily quiet on the second day of a nationwide shuttering of schools, shops and other public places. Italy has more than 15,000 confirmed cases of COVID-19 and over a thousand related deaths. (Photo by Marco Di Lauro/Getty Images)
ROME, ITALY - MARCH 13: Piazza Navona is seen completely empty on March 13, 2020 in Rome, Italy. Rome's streets were eerily quiet on the second day of a nationwide shuttering of schools, shops and other public places. Italy has more than 15,000 confirmed cases of COVID-19 and over a thousand related deaths. (Photo by Marco Di Lauro/Getty Images)
PARIS, FRANCE - MARCH 18: Pont Alexandre III is seen the second day after the announcement by French President Emmanuel Macron of the confinement of the French due to an outbreak of coronavirus pandemic (COVID-19) on March 18, 2020 in Paris, France. From Tuesday, March 17 at noon for at least two weeks, the French will have to stay at home, under penalty of sanctions, unless travel is absolutely necessary, announced the head of state. President launched the war against the coronavirus and placed France in containment without ever saying the word. The Coronavirus epidemic has exceeded 7,900 dead for more than 198,000 infections across the world. (Photo by Pascal Le Segretain/Getty Images )
PARIS, FRANCE - MARCH 18: Concorde square without traffic is seen the second day after the announcement by French President Emmanuel Macron of the confinement of the French due to an outbreak of coronavirus pandemic (COVID-19) on March 18, 2020 in Paris, France. From Tuesday, March 17 at noon for at least two weeks, the French will have to stay at home, under penalty of sanctions, unless travel is absolutely necessary, announced the head of state. President launched the war against the coronavirus and placed France in containment without ever saying the word. The Coronavirus epidemic has exceeded 7,900 dead for more than 198,000 infections across the world. (Photo by Pascal Le Segretain/Getty Images )
GOLD COAST, AUSTRALIA - MARCH 24: Surfers Paradise is een empty on March 24, 2020 in Various Cities, Australia. Non-essential travel has been banned in a bid to stop the spread of COVID-19 in Australia while venues such as bars, clubs, nightclubs, cinemas, gyms and restaurants, along with anywhere people remain static are now closed. Schools are currently open but parents have the option to keep children at home if they wish. There are now 1887 confirmed cases of COVID-19 in Australia and the death toll now stands at eight. (Photo by Chris Hyde/Getty Images)
BERLIN, GERMANY - MARCH 23: Empty streets and closed restaurant at the end of the Unter den Linden on March 23, 2020 in Berlin, Germany. The coronavirus and the disease it causes, covid-19, are having a fundamental impact on society, government and the economy in Germany. Public life has been restricted to the essentials in an effort by authorities to slow the spread of infections. Hospitals are scrambling to increase their testing and care capacity. An economic recession seems likely as economic activity is slowed and many businesses are temporarily closed. Schools, daycare centers and universities remain shuttered. And government, both federal and state, seek to mobilize resources and find adequate policies to confront the virus and mitigate its impact. (Photo by Maja Hitij/Getty Images)
BERLIN, GERMANY - MARCH 22: People cross a nearly-empty street leading to the Victory Column at Tiergarten park in the city center on March 22 in Berlin, Germany. Everyday life in Germany has become fundamentally altered as authorities tighten measures to stem the spread of the coronavirus. Public venues such as bars, clubs, museums, cinemas, schools, daycare centers and universities have closed. Many businesses are resorting to home office work for their employees. And travel across the border to most neighbouring countries is severely restricted. (Photo by Sean Gallup/Getty Images)
BOGOTA, COLOMBIA - MARCH 20: Nearly empty streets during a quarantine drill as a preventive measure against the spread of the COVID-19 on March 20, 2020 in Bogota, Colombia. Colombia's capital holds a four-day shutdown drill until Monday to prepare the city of seven million for a possible quarantine to stop COVID-19. (Photo by Guillermo Legaria/Getty Images)
BANGKOK, THAILAND - MARCH 22: Quiet streets in Bangkok after the government announced a partial lockdown on March 22, 2020 in Bangkok, Thailand. On March 22, 2020 Bangkok imposed a partial lockdown of the city calling for the closure of shopping malls, restaurants apart from delivery, all sporting events, entertainment venues, beauty salons and more amidst the spread of Covid-19. Thailand announced 188 new cases, rasising the country's total to 599 confirmed cases. (Photo by Lauren DeCicca/Getty Images)
NEW YORK, NEW YORK - MARCH 24: Pedestrians take in the scene at Brooklyn Bridge Park Pier 1 on March 24, 2020 in the Dumbo neighborhood of the Brooklyn borough of New York City. New York City has about a third of the nations confirmed coronavirus (COVID-19) cases, making it the epicenter of the outbreak in the United States. (Photo by Justin Heiman/Getty Images)
NEW YORK, NY - MARCH 14: A police officer crosses the street in a nearly empty Times Square on March 12, 2020 in New York, United States. Many New Yorkers are heeding the advice of officials after the state banned large gatherings of 500 people or more and recommended practicing "social distancing" during the COVID-19 pandemic. (Photo by David Dee Delgado/Getty Images)
NEW YORK, NY - MARCH 14: A normally very busy Times Square is nearly empty on March 12, 2020 in New York City. Many New Yorkers are heeding the advice of officials after the state banned large gatherings of 500 people or more and recommended practicing "social distancing" during the COVID-19 pandemic. (Photo by David Dee Delgado/Getty Images)
BEIJING, CHINA - MARCH 14: The empty escalators outside the usually busy Beijing Station metro is seen during the rush hours on March 14, 2020 in Beijing, China. In Beijing, the normally bustling capital, daily life has fallen into a rhythm of social distancing that is widely accepted as the new norm after two months of restrictions to stop coronavirus from spreading. Millions of people are still working from home, schools and entertainment venues remain closed, and even commutes on some public transit need to be pre-booked to control crowds. At the same time, China has been grappling with how to restart and revive the worlds second largest economy without triggering another wave of infections, especially in the home of the countrys political leadership. So, while the cautious return of economic activity in Beijing has meant more road traffic and street life during the day, evening brings a return to the familiar quiet anxiety that has defined Chinas efforts to contain the virus. After sunset, a majority of people avoid mingling or limit their interactions, and largely retreat to home. Retail stores follow reduced hours of operation, restaurants limit the number of people who can dine, and large gatherings are still banned. Residential areas have controls in place to restrict entry, and tighter quarantine rules require people returning to Beijing from other cities or countries to abide by a 14-day isolation period that is monitored and enforced. Authorities are sensitive to so-called imported cases of the coronavirus with nearly 81,000 cases of COVID-19 in China and more than 3200 deaths, mostly in and around the city of Wuhan, in central Hubei province, where the outbreak first started. (Photo by Kevin Frayer/Getty Images)
SALVADOR, BRAZIL - MARCH 22: General view of an nearly empty historic city center of Salvador during a lockdown aimed at stopping the spread of the coronavirus (COVID-19) pandemic on March 22, 2020 in Salvador, Brazil. Sundays would normally be a busy day, but is relatively quiet with additional precautions being taken amid the coronavirus (COVID-19). Bahia´s state government authorities imposed restrictions to public transport and have closed off access to the beach. According to the Ministry of Health, as of Sunday, March 22, Brazil had 1.546 confirmed cases of the coronavirus (COVID-19) and at least 25 recorded deaths. (Photo by Felipe Oliveira/Getty Images)
RIO DE JANEIRO, BRAZIL - MARCH 24: An aerial view of a nearly empty Presidente Vargas Avenue and Central do Brasil Station in the center of the city during a lockdown aimed at stopping the spread of the (COVID-19) coronavirus pandemic on March 24, 2020 in Rio de Janeiro, Brazil. According to the Ministry of health, as today, Brazil has 2201 confirmed cases infected with the coronavirus (COVID-19) and at least 46 recorded deceases. (Photo by Buda Mendes/Getty Images)
WINDSOR, ENGLAND - MARCH 19: The Queen is expected back at Windsor today, the streets surrounding the castle quieter than usual at Windsor Castle on March 19, 2020 in Windsor, England. (Photo by Chris Jackson/Getty Images)
BERLIN, GERMANY - MARCH 19: General view of almost empty streets from traffic or people in Kurfürstendamm, shopping boulevard, on March 19, 2020 in Berlin, Germany. Everyday life in Germany has become fundamentally altered as authorities tighten measures to stem the spread of the coronavirus. Public venues such as bars, clubs, museums, cinemas, schools, daycare centers and universities have closed. Many businesses are resorting to home office work for their employees. And travel across the border to most neighbouring countries is severely restricted. (Photo by Maja Hitij/Getty Images)
NITEROI, BRAZIL - MARCH 21: An aerial view of Rio-Niteroi bridge that connects the cities of Niteroi and Rio de Janeiro during Rio de Janeiros lock down aimed at stopping the spread of the coronavirus (COVID-19) pandemic on March 21, 2020 in Niteroi, Brazil. Rio de Janeiros state government imposed restrictions to public transport. Bus lines and trains are closed, ferries and subway are running at a limited capacity. According to the Ministry of Health, as Friday, March 20, Brazil had 978 confirmed cases of coronavirus (COVID-19) and at least 11 recorded fatalities. (Photo by Buda Mendes/Getty Images)
NEW YORK, NY - MARCH 20: Fog envelops the Manhattan skyline as the Brooklyn Bridge sits nearly empty of pedestrian traffic in the midst of the coronavirus (COVID-19) outbreak on March 20, 2020 in New York City. The economic situation in the city continued to decline as New York Gov Andrew Cuomo ordered all nonessential businesses to keep all their workers at home and New York weighed a shelter in place order for the entire city. (Photo by Victor J. Blue/Getty Images)
NEW DELHI, INDIA - MARCH 20: A general view of the Lotus Temple, closed for tourists to prevent spread of Covid-19, amid the government imposing restriction on assembly of more than 20 people over the coranavirus threat, on March 20, 2020 in New Delhi, India. The number of coronavirus cases continues to rise with a Bollywood singer-actor testing positive for the deadly virus on Friday. As the number of cases crossed 200, the provincial government in the national capital Delhi ordered the closure of shopping malls but allowed shops selling daily essentials and medicines in these malls. In Maharashtra which has seen over 59 cases and hosts the economic capital Mumbai, the provincial government ordered a partial lockdown asking private offices in many cities to shut and calling for 25% attendance in government offices. Meanwhile, the Covid-19 death toll in India rose to 5 on Friday with the death of an Italian tourist, who along with his wife had tested positive for the virus in pink city, Jiapur. (Photo by Yawar Nazir/Getty Images)
NEW YORK, NY - MARCH 19: People walk through an empty Times Square on March 19, 2020 in New York City. Schools, businesses and most places where people congregate across the country have been shut down as health officials try to slow the spread of COVID-19. (Photo by Spencer Platt/Getty Images)
NEW YORK, NEW YORK - MARCH 24: A pedestrian, wearing a protective face mask walks the Brooklyn Bridge on March 24, 2020 in the Dumbo neighborhood of the Brooklyn borough of New York City. New York City has about a third of the nations confirmed coronavirus (COVID-19) cases, making it the epicenter of the outbreak in the United States. (Photo by Justin Heiman/Getty Images)
NEW YORK, NEW YORK - MARCH 24: A pedestrian, wearing a protective face mask walks the pier on March 24, 2020 in the Dumbo neighborhood of the Brooklyn borough of New York City. New York City has about a third of the nations confirmed coronavirus (COVID-19) cases, making it the epicenter of the outbreak in the United States. (Photo by Justin Heiman/Getty Images)
MIAMI BEACH, FLORIDA - MARCH 24: In this aerial view from a drone, desolate Ocean Drive is seen after most visitors have checked out of their hotels in a citywide effort to contain the coronavirus on March 24, 2020 in Miami Beach, Florida. Miami Beach ordered its hotels closed to visitors in an effort to slow the spread of COVID-19. (Photo by Joe Raedle/Getty Images)
LAS VEGAS, NEVADA - MARCH 18: A view of the Las Vegas Strip near Caesars Palace shows light vehicle and pedestrian traffic as the coronavirus continues to spread across the United States on March 18, 2020 in Las Vegas, Nevada. On Tuesday, Nevada Gov. Steve Sisolak announced a statewide closure of all nonessential businesses, including hotel-casinos on the Strip, by noon today for at least 30 days to help combat the spread of the virus. The World Health Organization declared the coronavirus (COVID-19) a global pandemic on March 11th. (Photo by Ethan Miller/Getty Images)
LAS VEGAS, NEVADA - MARCH 22: The shuttered Four Queens Hotel & Casino at the Fremont Street Experience is shown as businesses remain closed as a result of the statewide shutdown due to the continuing spread of the coronavirus across the United States on March 22, 2020 in Las Vegas, Nevada. On Friday, Nevada Gov. Steve Sisolak ordered a mandatory shutdown of most nonessential businesses in the state until April 16 to help combat the spread of the virus. The World Health Organization declared the coronavirus (COVID-19) a global pandemic on March 11th. (Photo by Ethan Miller/Getty Images)
Streets are quiet due to a "shelter in place" order given to residents to slow the spread of the COVID-19 virus on March 20, 2020 in Oak Park,Illinois. Oak Park has issued a “shelter-in-place” order as of 12:01 a.m. Friday, after two emergency room physicians at Rush Oak Park Hospital tested positive for COVID-19 and Gov. J.B. Pritzker plans to issue the same for the entire state starting Saturday.
NEW YORK, NY - MARCH 14: People cross the street in a nearly empty Times Square on March 12, 2020 in New York City. Many New Yorkers are heeding the advice of officials after the state banned large gatherings of 500 people or more and recommended practicing "social distancing" during the COVID-19 pandemic. (Photo by David Dee Delgado/Getty Images)
LAS VEGAS, NEVADA - MARCH 22: An exterior view shows The El Cortez Hotel & Casino in the Fremont East Entertainment District closed as a result of the statewide shutdown due to the continuing spread of the coronavirus across the United States on March 22, 2020 in Las Vegas, Nevada. On Friday, Nevada Gov. Steve Sisolak ordered a mandatory shutdown of most nonessential businesses in the state until April 16 to help combat the spread of the virus. The World Health Organization declared the coronavirus (COVID-19) a global pandemic on March 11th. (Photo by Ethan Miller/Getty Images)
An aerial view from a drone shows an area of South Beach that the city closed in an effort to prevent the spread of the coronavirus on March 16, 2020 in Miami Beach, Florida. Miami Beach city officials closed the area of the beach that is popular with college spring breakers and asked them to refrain from large gatherings where COVID-19 could spread.
An aerial view of a near empty Rio-Niteroi bridge that connects the cities of Niterói and Rio de Janeiro during Rio de Janeiros lock down aimed at stopping the spread of the coronavirus (COVID-19) pandemic on March 21, 2020 in Niteroi, Brazil. Rio de Janeiro's state government imposed restrictions to public transport. Bus lines and trains are closed, ferries and subway are running at a limited capacity. According to the Ministry of Health, as Friday, March 20, Brazil had 978 confirmed cases of coronavirus (COVID-19) and at least 11 recorded fatalities.