The parent company of Chuck E. Cheese and Peter Piper Pizza recently announced reductions in spending, furloughs and a shift in strategy, according to the Dallas Business Journal.
The company previously suspended use of its in-person dining, entertainment and arcade rooms due to the coronavirus until at least April 10. Now, Chuck E. Cheese has suspended all discretionary spending, reduced capital expenditures and furloughed more than half of its support center personnel.
Since closing down its corporate venues on March 17 (they’re still mostly open for carryout orders), sales are down 94 percent in what is typically the company’s biggest quarter of business. Sales are down 43 percent for the month-to-date.