California Pizza Kitchen Has Filed For Bankruptcy

California Pizza Kitchen's CEO Jim Hyatt announced on Thursday (July 30) that the company is filing for Chapter 11 bankruptcy amid the coronavirus pandemic. Hyatt released in a statement that the company is in a restructuring agreement, which will commit $46.8 million in new financing. While under restructuring, the company will remain open for business and offer take out, delivery, third party and select dining room and patio locations. It is being reported that the Los Angeles-based company will close some of its 200 restaurants worldwide.

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