... [+] Chuck E. Cheese’s parent company, CEC Entertainment, filed for bankruptcy after the coronavirus pandemic closed most of its family-friendly eateries. The more than 7 billion Prize Tickets held by vendors — tickets that ordinarily would be redeemed for prizes such as toys, plush dolls, and branded merchandise — is enough tickets to fill about 65 forty-foot cargo shipping containers, the company said in the filing. Orders for the tickets originally were placed based on pre-Covid use levels, according to Cleveland.com, which earlier reported on the tickets. That presents a challenge for brands like Chuck E. Cheese’s and Texas-based Dave & Buster’s — sometimes called Chuck E. Cheese’s for grownups — which rely heavily on consumers playing games and interacting with amenities inside the restaurant. Chuck E. Cheese’s still has nearly 490 locations in the United States, according to the brand’s website.

Source: Forbes September 22, 2020 17:03 UTC