Home https://server7.kproxy.com/servlet/redirect.srv/sruj/smyrwpoii/p2/ Business https://server7.kproxy.com/servlet/redirect.srv/sruj/smyrwpoii/p2/ Bankrupt Chuck E. Cheese moves to destroy 7 billion prize tickets

Bankrupt Chuck E. Cheese moves to destroy 7 billion prize tickets



The mouse mascot Charles is probably not that happy about this.

Leadership of that bankruptcy Chuck E. Cheese hopes to destroy 7 billion prize tickets collected in its supply chain during the coronavirus pandemic.

CHUCK E. CHEESE SELLS PIZZA UNDER ANOTHER NAME AT GRUBHUB

The parent company CEC Entertainment Inc. filed for Chapter 1

1 bankruptcy in June and asked a Texas bankruptcy court for permission to spend about $ 2.3 million on three vendors to shred the coupons Monday, Bloomberg Law reports.

According to The New York Post, this serious stash of coupons – worth $ 0.0013 per ticket – is about $ 9 million in merchandise at the kid-friendly restaurant and arcade or enough to fill 65 shipping containers.

Chuck E. Cheese hopes to destroy 7 billion prize tickets collected in its supply chain during the coronavirus pandemic. (Justin Sullivan / Getty Images)

HALLOWEEN 2020: CANDY SALES CAN RUN AS FEW AMERICANS PLAN FOR PROVISION OF TREATMENTS, SURVEY PROPOSALS

Now the CEC hopes to shred the tickets because “prize tickets can be redeemed by guests at a significantly higher value than the price of prize tickets”, per. Court filing.

Although some locations in Chuck E. Cheese are permanently closed amid the ongoing outbreak, others have been reopened for business. As the industry shifts to “contactless service”, a trend accelerated only by improved health and safety protocol due to COVID-19, the CEC hopes to replace the traditional coupons with electronic tickets and also goodbye to the “muncher” machines that count up prizes, reports Posten.

Click here to read more stories about fox shops

A hearing is scheduled for September 21.

CEC Entertainment Inc. was contacted for further comments.


Source link