California Pizza Kitchen files for bankruptcy

Pizza at the California Pizza Kitchen.
(Image credit: Frazer Harrison/Getty Images)

California Pizza Kitchen on Thursday filed for bankruptcy, with the restaurant chain saying it plans on closing some of its roughly 200 locations.

Founded in 1985, the company started looking for buyers last fall, and the search is still on. Now, California Pizza Kitchen is being kept afloat thanks to a $47 million loan from a group of lenders, which will fund operations through the bankruptcy proceedings, The Wall Street Journal reports.

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Catherine Garcia, The Week US

Catherine Garcia has worked as a senior writer at The Week since 2014. Her writing and reporting have appeared in Entertainment Weekly, The New York Times, Wirecutter, NBC News and "The Book of Jezebel," among others. She's a graduate of the University of Redlands and the Columbia University Graduate School of Journalism.