Chuck E. Cheese parent files for Chapter 11 bankruptcy amid coronavirus crisis
The company will continue talks with its stakeholders and landlords to restructure its balance sheet
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Restaurant chain Chuck E. Cheese parent CEC Entertainment Inc said on Thursday the company and its domestic affiliates have filed for Chapter 11 bankruptcy as a result of the ongoing coronavirus crisis.
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The company said it wants to use the process to continue talks with its stakeholders and landlords to restructure its balance sheet.
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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 in 2014 for $1.3 billion, including debt.
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(Reporting by Kanishka Singh in Bengaluru; Editing by Krishna Chandra Eluri)