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.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
-
JD Vance steps into the spotlight as MAGA heir apparentIN THE SPOTLIGHT The vice president is taking an increasingly proactive role in a MAGA movement roiled by scandal and anxious about a post-Trump future
-
Why does the US want to put nuclear reactors on the moon?Today's Big Question The plans come as NASA is facing significant budget cuts
-
Congress should 'step in' to block Trump's White House ballroom makeoverInstant Opinion Opinion, comment and editorials of the day
-
NFL gets ESPN stake in deal with DisneySpeed Read The deal gives the NFL a 10% stake in Disney's ESPN sports empire and gives ESPN ownership of NFL Network
-
Samsung to make Tesla chips in $16.5B dealSpeed Read Tesla has signed a deal to get its next-generation chips from Samsung
-
FCC greenlights $8B Paramount-Skydance mergerSpeed Read The Federal Communications Commission will allow Paramount to merge with the Hollywood studio Skydance
-
Tesla reports plummeting profitsSpeed Read The company may soon face more problems with the expiration of federal electric vehicle tax credits
-
Dollar faces historic slump as stocks hit new highSpeed Read While stocks have recovered post-Trump tariffs, the dollar has weakened more than 10% this year
-
Economists fear US inflation data less reliablespeed read The Labor Department is collecting less data for its consumer price index due to staffing shortages
-
Crypto firm Coinbase hacked, faces SEC scrutinySpeed Read The Securities and Exchange Commission has also been investigating whether Coinbase misstated its user numbers in past disclosures
-
Starbucks baristas strike over dress codespeed read The new uniform 'puts the burden on baristas' to buy new clothes, said a Starbucks Workers United union delegate
