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the kitchen it closed?!.....'California Pizza Kitchen' files for bankruptcy.....
Posted by: NewtonMP2100
Date: July 31, 2020 07:09AM
.....no more California Pie......in the sky.....


California Pizza Kitchen files for bankruptcy, citing pandemic woes

.....One of the nation's most popular pizzeria chains filed for bankruptcy Thursday, blaming the coronavirus pandemic for its financial struggles. California Pizza Kitchen said it will continue operating as usual while working through a Chapter 11 restructuring plan aimed at reducing its debt by $230 million.

The pizzeria hinted in its filing that it will close some of its 200-plus locations, though it expects to exit bankruptcy in less than three months. CEO Jim Hyatt said in a statement that declaring bankruptcy now will create "a stronger future for California Pizza Kitchen."

"The unprecedented impact of COVID-19 on our operations certainly created additional challenges," Hyatt said.

Like many restaurant chains, CPK temporarily closed stores hoping to curb the spread of COVID-19. The company permanently closed 46 locations that couldn't be converted to take-out facilities. The closures especially hurt CPK, Hyatt said in court documents, because 78% of total sales prior to the pandemic came from in-store dining.

CPK has spent the past few months lowering costs by slashing corporate pay by 35%, renegotiating leases with landlords and postponing store renovations. The company has about 15,000 employees and about 6,000 of them were furloughed in April and May. Court documents show that CPK hasn't paid rent at its locations in the past four months.

Under its proposed restructuring plan, CPK would reduce its current debt of $403 million to about $174 million, with rolling payments due until the end of 2024. The company announced $47 million in new financing Thursday that will help keep stores open. CPK has $13.5 million in cash on hand, Hyatt said in court documents.

CPK joins a list of restaurants that have declared bankruptcy during the pandemic. Chuck E. Cheese filed for Chapter 11 in June, while grab-and-go food chain PQ New York filed for Chapter 11 in May.



going to that.......pie.......in the sky.......?!



_____________________________________

I reject your reality and substitute my own!
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Re: the kitchen it closed?!.....'California Pizza Kitchen' files for bankruptcy.....
Posted by: Fritz
Date: July 31, 2020 07:26AM
I think pineapple pizza killed CPK long before C19.



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If there are spelling issues, please pardon, Owen the cat is sitting on my keyboard.
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Re: the kitchen it closed?!.....'California Pizza Kitchen' files for bankruptcy.....
Posted by: Zoidberg
Date: July 31, 2020 09:34AM
Quote
Fritz
I think pineapple pizza killed CPK long before C19.

Oh, we're gonna start this fight again, eh? winking smiley



(BTW, it's spelled < y'all >.)
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Re: the kitchen it closed?!.....'California Pizza Kitchen' files for bankruptcy.....
Posted by: N-OS X-tasy!
Date: July 31, 2020 09:37AM
Had lunch there just yesterday.



It is what it is.
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Re: the kitchen it closed?!.....'California Pizza Kitchen' files for bankruptcy.....
Posted by: Sarcany
Date: July 31, 2020 09:40AM
Quote
Zoidberg
Quote
Fritz
I think burnt, flat, flavorless pineapple pizza killed CPK long before C19.

Oh, we're gonna start this fight again, eh? winking smiley

FTFY.

Bring it on! big grin smiley



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Re: the kitchen it closed?!.....'California Pizza Kitchen' files for bankruptcy.....
Posted by: Fritz
Date: July 31, 2020 09:48AM
Quote
Zoidberg
Oh, we're gonna start this fight again, eh? winking smiley

nah, I'm a fkn NYer with lots of Italian friends.
We're right. Get used to it.!
I have no other use for pineapple other than pina colada.

I see your winking smiley and I raise you winking smiley winking smiley winking smiley!!!¡¡¡¡¡¡¡



!#$@@$#!

If there are spelling issues, please pardon, Owen the cat is sitting on my keyboard.



Edited 1 time(s). Last edit at 07/31/2020 09:49AM by Fritz.
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Re: the kitchen it closed?!.....'California Pizza Kitchen' files for bankruptcy.....
Posted by: d4
Date: July 31, 2020 10:05AM
It's easy enough to buy your pizza local where the money goes to a local business owner instead of up to a big corporation then drips back down to the employees as minimum wage.



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Re: the kitchen it closed?!.....'California Pizza Kitchen' files for bankruptcy.....
Posted by: M A V I C
Date: July 31, 2020 10:10AM
Pineapple on a pizza is like onions on a donut.




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Re: the kitchen it closed?!.....'California Pizza Kitchen' files for bankruptcy.....
Posted by: Fritz
Date: July 31, 2020 10:26AM
Quote
M A V I C
Pineapple on a pizza is like onions on a donut.

yeow ...



!#$@@$#!

If there are spelling issues, please pardon, Owen the cat is sitting on my keyboard.
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Re: the kitchen it closed?!.....'California Pizza Kitchen' files for bankruptcy.....
Posted by: Zoidberg
Date: July 31, 2020 10:46AM
When we don't make the pie at home, we go with the local pizza joints (or the regional chains; the ones that have a handful of locations in the area/state).

I love a good pepperoni pizza. I love it with a mess of toppings on it (except mushrooms b'c allergy).

I also love a good Hawaiian pizza. (e.g., bbq sauce, Canadian bacon, regular bacon, pineapple and some red onions & cilantro)

IDIC, y'all. C'mon. To each his own and your mileage may vary.



(BTW, it's spelled < y'all >.)
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Re: the kitchen it closed?!.....'California Pizza Kitchen' files for bankruptcy.....
Posted by: RAMd®d
Date: July 31, 2020 11:59AM
There are no local/mom and pop pizzerias near me, on little, big, bigger, and biggest.

But I never counted California among them.

There is one in the same mall as an Apple Store, and I'd pass by it every visit.

There was hardly anyone in the store.

Maybe on Fridays and weekends, but still...

That and my predisposition to assume the arrogance of putting California in the name meant tofu, avocado, and spinach as toppings on gluten free dough, made it a hard pass.

I'd sooner go back to Round Table.

When I need a pizza fix, i'll grab a slice at Costco, a pie at Domino's, or if in the mood for a ride or drive, Zachary's, in San Ramon.

The latter's small pie is pricey and a liiiiitle high in the sodium count (tastewise) so it's the least frequent of the three, but also the best by a country league.




When a good man is hurt,
all who would be called good
must suffer with him.

Everybody matters or nobody matters.

You and I have memories longer than the road that stretches out ahead.

There is no safety for honest men except
by believing all possible evil of evil men.

We don’t do focus groups. They just ensure that you don’t offend anyone, and produce bland inoffensive products. —Sir Jonathan Ive

-An armed society is a polite society.
And hope is a lousy defense.

You make me pull, I'll put you down.

Mister, that's a ten-gallon hat on a twenty-gallon head.

I *love* SIGs. It's Glocks I hate.
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Re: the kitchen it closed?!.....'California Pizza Kitchen' files for bankruptcy.....
Posted by: d4
Date: July 31, 2020 12:52PM
Quote
RAMd®d
There are no local/mom and pop pizzerias near me

I hate hearing this. No local owned pizzerias. Just corporate pizza chains and franchises. How much is it open a pizzeria? Oven, fridges, counters, tables. 50k? That's gotta be a fraction of what a Dominos or Pizza Hut franchise costs with ongoing annual fees back to Corporate. I know, it's easy for me to sit here and gripe.. but still.



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Re: the kitchen it closed?!.....'California Pizza Kitchen' files for bankruptcy.....
Posted by: Sarcany
Date: July 31, 2020 12:57PM
Quote
M A V I C
Pineapple on a pizza is like onions on a donut.

Onions on a donut sounds much better than pineapple on a pizza.



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Re: the kitchen it closed?!.....'California Pizza Kitchen' files for bankruptcy.....
Posted by: p8712
Date: July 31, 2020 02:21PM
Quote
M A V I C
Pineapple on a pizza is like onions on a donut.

WAY AHEAD OF YOU

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Re: the kitchen it closed?!.....'California Pizza Kitchen' files for bankruptcy.....
Posted by: rgG
Date: July 31, 2020 02:44PM
Hey, let Zoid have his pineapple on his pizza, and that looks like a bagel not a donut, with the onions.
grinning smiley
Our CPK got bad before C19 came along, so I am not surprised by this.
They had one pizza I liked, a long time ago, and the took it off the menu
I usually got their roasted veggie salad with grilled shrimp which was good, but their uneven service made us stop going.





Roswell, GA (Atlanta suburb)
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Re: the kitchen it closed?!.....'California Pizza Kitchen' files for bankruptcy.....
Posted by: Sarcany
Date: July 31, 2020 02:46PM
Quote
rgG
that looks like a bagel not a donut, with the onions.

I like savory sweets. I'll have the "everything" donut!



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Re: the kitchen it closed?!.....'California Pizza Kitchen' files for bankruptcy.....
Posted by: rgG
Date: July 31, 2020 03:54PM
Quote
Sarcany
Quote
rgG
that looks like a bagel not a donut, with the onions.

I like savory sweets. I'll have the "everything" donut!

barf smiley





Roswell, GA (Atlanta suburb)
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Re: the kitchen it closed?!.....'California Pizza Kitchen' files for bankruptcy.....
Posted by: RgrF
Date: July 31, 2020 08:25PM
Haven't ordered pizza from a chain in years. SFV is loaded with stand alone and 2 or 3 outlet pizzerias. Joe Peeps in NoHo is a favorite.
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Re: the kitchen it closed?!.....'California Pizza Kitchen' files for bankruptcy.....
Posted by: C(-)ris
Date: July 31, 2020 09:12PM
Quote
d4
Quote
RAMd®d
There are no local/mom and pop pizzerias near me

I hate hearing this. No local owned pizzerias. Just corporate pizza chains and franchises. How much is it open a pizzeria? Oven, fridges, counters, tables. 50k? That's gotta be a fraction of what a Dominos or Pizza Hut franchise costs with ongoing annual fees back to Corporate. I know, it's easy for me to sit here and gripe.. but still.

They are closing left and right around here. Just lost my favorite locally owned place to be torn down for a Coffee shop. I don't think the issue is with the Pies, I think the issue is not everyone eats pizza anymore.



C(-)ris
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Re: the kitchen it closed?!.....'California Pizza Kitchen' files for bankruptcy.....
Posted by: RAMd®d
Date: August 01, 2020 01:54AM
and that looks like a bagel not a donut, with the onions.


That looks like a bagel with chocolate flakes.




When a good man is hurt,
all who would be called good
must suffer with him.

Everybody matters or nobody matters.

You and I have memories longer than the road that stretches out ahead.

There is no safety for honest men except
by believing all possible evil of evil men.

We don’t do focus groups. They just ensure that you don’t offend anyone, and produce bland inoffensive products. —Sir Jonathan Ive

-An armed society is a polite society.
And hope is a lousy defense.

You make me pull, I'll put you down.

Mister, that's a ten-gallon hat on a twenty-gallon head.

I *love* SIGs. It's Glocks I hate.
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