The California Pizza Kitchen restaurant group filed for Chapter 11 bankruptcy Thursday after disclosing its revenues had fallen by 40 percent year-over-year, the latest dining company hobbled by the ongoing coronavirus pandemic. āThe unprecedented impact of Covid-19 on our operations certainly created additional challenges, but this agreement from our lenders demonstrates their commitment to CPKās viability as an ongoing business,ā CEO Jim Hyatt said in a statement. The shuttering of indoor dining has devastated the company, which relies on on-site dining for 80 percent of its sales. The chain reportedly hasnāt paid rent on a majority of its 200 locations in recent months.
