CEC Entertainment, the parent company of Chuck E. Cheese, has filed for Chapter 11 bankruptcy protection.
The company made the announcement Thursday that the move is due closing locations amid the coronavirus pandemic, CNBC reported.
The locations that are scheduled to reopen will continue their plans to restart the business. About half of the Chuck E. Cheese and Peter Piper Pizza shops have already reopened.
The company owns 555 restaurants, with 266 reopened by June 24, CBS News reported.
Chapter 11 bankruptcy will be used to allow CEC Entertainment to work with creditors and landlords to restructure the business.
CEC Entertainment joins Hertz, J. Crew, Neiman Marcus and J.C. Penny as the retail industry tries to rebound months-long brick-and-mortar closures due to COVID-19, CNBC reported.
CBS News reported 722 companies have filed for bankruptcy protection in the U.S. in May.
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