Chuck E. Cheese may have hit a trap it can’t escape.
CEC Entertainment, based in Texas, could soon close all 527 Chuck E. Cheese restaurants due to being nearly a billion dollars in debt, according to the Wall Street Journal.
The pandemic hasn’t helped recovery efforts for Chuck E. Cheese. According the Journal, it stopped making monthly rent payments back in March and furloughed most of its employees and staff.
CEC announced nearly $3 million dollars in what the Journal calls “prebankruptcy bonuses” for a trio of executives.
There are 21 Chuck E. Cheese throughout Illinois. The closest locations are Joliet, Matteson and Tinley Park.
Chuck E. Cheese first opened in 1977 and was formally known as Showbiz Pizza Place until changing its name in 1998.