I’m not leading this story with the headline “Chuck E. Cheeses files for bankruptcy,” as it seems to be taken incorrectly by some. Unfortunately, I’ve found that many “readers” on both Facebook and Twitter refuse to actually click on the stories and read them. This modern trend of just reading headlines and forming deep opinions based solely off that tiny piece of information is frustrating and crazy, but nothing that I can change in our society. I guess we’ll see if anyone bothers to read all this, since it is kind of a wall of text.
Yes – the iconic Chuck E. Cheeses has formally filed for bankruptcy – but lets read the story and CEC’s statement before hitting the panic button and jumping off of the roof.
Before quoting the article though, note that bankruptcy is not the same as “closed for business forever.” Many brands have survived the process, which allows them to restructure and save some of the jobs, or come out better than they were previously. No, they don’t save all of them – but some is far preferable to none. Yes, the situation right now is unique for modern society, but again, let’s not panic, as that won’t do us any good.
Now to the important parts regarding Chuck E. Cheeses – let’s look at their statement:
 The Company expects to use the time and legal protections made available through the Chapter 11 process to continue discussions with financial stakeholders, as well as critical conversations with its landlords, to achieve a comprehensive balance sheet restructuring that supports its re-opening and longer-term strategic plans.
Translation: Chapter 11 gives them a chance to renegotiate funding so that they can get better deals on their rent (rent being one of the largest monthly expenses for most arcade businesses).
CEC franchised locations operate under separate legal