Chuck E. Cheese in Portage May Be Permanently Closing
Chuck E. Cheese may never reopen it's doors after the Covid-19 pandemic.
This isn't just a Portage, Michigan problem. CEC Entertaintment, the company behind Chuck E. Cheese, is trying to figure out a way to handle their now $1 Billion debt. They're asking lenders for a $200 million load to keep the business a float. Even if they get the loan, all 610 locations probably won't survive. If they don't get the loan, bankruptcy and a permanent closure of all stores is likely according to people.com.
CEC Entertainment proposed paying CEO David McKillips $1.3 million dollars to stay on during these hard times according to their SEC Filing on June 1st. They will also pay President J. Roger Cardinale $900,000 and Executive Vice President and Chief Financial Officer James Howell $675,000 to help keep the family and fun pizza place a float.
What do you think of the posibility of losing Chuck E. Cheese? Did you and your family ever enjoy the Chuck E. Cheese band in Portage? Let us know in the facebook comments.
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