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To the list of restaurant franchises filing for bankruptcy since the arrival of the coronavirus pandemic —&nbsp;a list that includes iconic brands like Chuck E. Cheese and Le Pain Quotidien —&nbsp;add California Pizza Kitchen.&nbsp;On Thursday, the LA-based full-service franchise announced it had officially filed for Chapter 11 bankruptcy, allowing the brand to undergo a financial restructuring that may include turning over leadership to lenders and slashing debt.<a href="https://la.eater.com/2020/7/30/21348457/california-pizza-kitchen-bankruptcy-covid-coronavirus-pandemic-closing-news?utm_source=1851franchise.com&utm_medium=article&utm_campaign=california-pizza-kitchen-files-for-bankruptcy-2713631" target="_blank" rel="nofollow">As EATER Los Angeles points out</a>, the news does not mean that California Pizza Kitchen will be closing all of its 250 locations, but Chapter 11 is widely considered the last-ditch effort for a struggling business, and the brand is likely to close a number of underperforming units as a result of the financial restructuring.&nbsp;“The unprecedented impact of COVID-19 on our operations certainly created additional challenges, but this agreement from our lenders demonstrates their commitment to CPK’s viability as an ongoing business,” said CEO Jim Hyatt in a statement. “Throughout this process we will continue to deliver the same innovative, California-inspired cuisine that we have been serving for over 35 years.”<a href="https://la.eater.com/2020/7/30/21348457/california-pizza-kitchen-bankruptcy-covid-coronavirus-pandemic-closing-news?utm_source=1851franchise.com&utm_medium=article&utm_campaign=california-pizza-kitchen-files-for-bankruptcy-2713631" target="_blank" rel="nofollow">Read more at la.eater.com</a>.

California Pizza Kitchen Files for Bankruptcy

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At least some of the franchise’s locations will remain open as the business undergoes financial restructuring.

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California Pizza Kitchen Files for Bankruptcy

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