CEC Entertainment’s confirmed reorganization plan reached effectiveness, as reported in the effective-date notice Dkt. 1528 filed December 30, 2020. Post-emergence implementation includes administering the plan’s $5.5 million cash pool through a trust for general unsecured claims, as described in the confirmation exhibits Dkt. 1470.

CEC Entertainment, Inc. reached plan effectiveness, as reported in the effective-date notice Dkt. 1528 filed December 30, 2020, following the court’s December 15, 2020 confirmation order Dkt. 1495 approving its Second Amended Joint Chapter 11 Plan. The final decree Dkt. 1541 entered January 6, 2021 closed certain cases and amended the caption of the remaining case. The post-emergence path involved implementing the plan’s financing and creditor-distribution arrangements.

The Chuck E. Cheese and Peter Piper Pizza operator filed Chapter 11 Dkt. 1 on June 24, 2020 after COVID-19 disrupted its business spanning 741 venues worldwide and caused revenue to decline by more than 90%, as described in the confirmation exhibits Dkt. 1470. The court initially authorized cash-collateral use through a June 29, 2020 interim order Dkt. 114, then authorized DIP financing and continued cash-collateral use in its October 13, 2020 financing order Dkt. 1118.

The plan’s financing and recovery structure, described in the confirmation exhibits Dkt. 1470, provided for a $200 million first-lien, first-out exit term loan, whose lenders would receive 45% of the new equity, and a $175 million second-out term loan with a seven-year maturity. Senior unsecured noteholders were allocated a pro rata share of warrants covering 10% of the new equity, struck at an $875 million equity value. The plan incorporated a settlement with the creditors’ committee and provided for a general unsecured creditor trust with a $5.5 million cash pool to satisfy general unsecured claims.

CEC Entertainment’s confirmed reorganization plan reached effectiveness, as reported in the effective-date notice Dkt. 1528 filed December 30, 2020. Post-emergence implementation includes administering the plan’s $5.5 million cash pool through a trust for general unsecured claims, as described in the confirmation exhibits Dkt. 1470.

CEC Entertainment, Inc. reached plan effectiveness, as reported in the effective-date notice Dkt. 1528 filed December 30, 2020, following the court’s December 15, 2020 confirmation order Dkt. 1495 approving its Second Amended Joint Chapter 11 Plan. The final decree Dkt. 1541 entered January 6, 2021 closed certain cases and amended the caption of the remaining case. The post-emergence path involved implementing the plan’s financing and creditor-distribution arrangements.

The Chuck E. Cheese and Peter Piper Pizza operator filed Chapter 11 Dkt. 1 on June 24, 2020 after COVID-19 disrupted its business spanning 741 venues worldwide and caused revenue to decline by more than 90%, as described in the confirmation exhibits Dkt. 1470. The court initially authorized cash-collateral use through a June 29, 2020 interim order Dkt. 114, then authorized DIP financing and continued cash-collateral use in its October 13, 2020 financing order Dkt. 1118.

The plan’s financing and recovery structure, described in the confirmation exhibits Dkt. 1470, provided for a $200 million first-lien, first-out exit term loan, whose lenders would receive 45% of the new equity, and a $175 million second-out term loan with a seven-year maturity. Senior unsecured noteholders were allocated a pro rata share of warrants covering 10% of the new equity, struck at an $875 million equity value. The plan incorporated a settlement with the creditors’ committee and provided for a general unsecured creditor trust with a $5.5 million cash pool to satisfy general unsecured claims.