Dave & Buster Entertainment Inc., a chain of entertainment centers that offer food, drink and arcade games, looked increasingly grim this week as the coronovirus economy cut back massively from revenue and the company laid off hundreds of workers Of. .
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The Wall Street Journal reported that the company warned on Wednesday that it might need to file for bankruptcy if it did not reach a deal with its lenders amid a squeeze of coronovirus.
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Dave & Buster’s second quarter revenue has grown 85 percent this year compared to last year, the company announced last Friday – falling from $ 344.6 million in 2019 to just $ 50.8 million.
Revenue in the first quarter declined to $ 159.8 million in 2020 from $ 363.6 million in the previous year.
Chen reported Wednesday that there are plans to lay off more than 1,300 employees from seven states. D and B will reportedly reenter workers from that pool and once allowed to reopen it.
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According to the WSJ report, by November 1 the company reached a short-term debt-relief deal with its lenders, but the chain is warning that it may need to file for bankruptcy if it is not extended.
According to the report, due to pressure on the coronovirus-related industry, a similar entertainment venture Chuck E. Cheese’s parent company, which is made for children rather than crowds above 21, has already filed for bankruptcy. So is Apex Park Group LLC, an amusement park company.
Many of D & B’s locations remained closed for months due to the COVID-19 shutdown and health precautions, with the company saying it had reopened 89 of its 137 stores as Sept. 9. They were operating under reduced hours and capacity limits as per local regulations. Each facility.
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Each location is also offering a delicious food and beverage menu and has implemented additional cleaning procedures.