Parent company of Chuck E. Cheese files for bankruptcy

CEC Entertainment also owns Peter Piper Pizza

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The parent company of Chuck E. Cheese has filed for bankruptcy.

CEC entertainment filed for bankruptcy Thursday blaming financial strain caused the global coronavirus pandemic.

The company says it expects to operate normally through the process.

Nearly half of its 555 Chuck E. Cheese locations are now open and they plan to reopen more locations weekly.

The company, which also owns Peter Piper Pizza, employs over 16,000 people.

Employees' pay won't be disrupted, and they will continue to receive benefits during the process.

The company's financial problems date back well before the coronavirus crisis.

It has lost money in four of the past five years losing over 28 million just last year.