I hope all people working there are OK, I know it's not the case but I really hope...
California Pizza Kitchen Files for Bankruptcy, Restaurant Chain Succumbs to Pandemic
A group of lenders seeks to take control in a fast-track bankruptcy
- By Soma Biswas and Dave Sebastian
- Updated July 30, 2020 3:58 pm ET
California Pizza Kitchen Inc. filed for bankruptcy on Thursday, joining a growing list of troubled restaurant chains unable to outlast the Covid-19 pandemic.
CPK sought court protection with a proposal to speed through chapter 11 in just under three months, slash debt and hand over ownership to lenders. Almost all of the Los Angeles-based chain’s top-ranking lenders have agreed to the proposed restructuring, CEO Jim Hyatt said in court papers filed in U.S. Bankruptcy Court in Houston.