One of the nation’s most popular pizzeria chainsfiled for bankruptcy Thursday, blaming thecoronavirus pandemicfor its financial struggles. California Pizza Kitchen said it will continue operating as usual while working through a Chapter 11 restructuring plan aimed at reducing its debt by $230 million.
The pizzeria hinted in its filing that it will close some of its 200-plus locations, though it expects to exit bankruptcy in less than three months. CEO Jim Hyatt said in a statement that declaring bankruptcy now will create “a stronger future for California Pizza Kitchen.”
“The unprecedented impact of COVID-19 on our operations certainly created additional challenges,” Hyatt said.
Like many restaurant chains, CPK temporarily closed …
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