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.