Chuck E. Cheese files for Chapter 11 bankruptcy protection after much speculation over the children's dinnertainment chain's looming demise

CEC Entertainment, the parent company of Chuck E. Cheese, filed for Chapter 11 bankruptcy protection on Thursday.
Chuck E. Cheese's finances have been in freefall since the start of the pandemic, with mounting debt and thrice-downgraded credit scores.
Chuck E. Cheese's brand of dinnertainment is one of many dine-in concepts that have been decimated by the pandemic, which created a restaurant landscape conducive to takeout-based businesses.
However, CEC Entertainment plans to continue reopening Chuck E. Cheese locations as it navigates bankruptcy.

On Thursday, CEC Entertainment, the parent company of Chuck E. Cheese, filed for Chapter 11 bankruptcy protection.

The bankruptcy of the children's dinnertainment company comes just weeks after it doled out pre-bankruptcy bonuses to executives. Its credit rating and income have been in freefall since the coronavirus pandemic-related shutdowns began.