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According to Patrick Maguire of Maguire Promotions & Hospitality Consulting, California Pizza Kitchen has filed for bankruptcy, with an article from the restaurantbusinessonline.com site saying that the chain is "facing months of unpaid leases" and has a "dwindling amount of cash," and is looking to close outlets that are unprofitable while cutting back on its debt. The post mentions that CPK has been hit by the increased popularity of fast-casual restaurants as well as takeout and delivery, and the COVID-19 pandemic has played a big role as well, with CEO Jim Hyatt saying that "No restaurateur in the world...has been unaffected by the COVID-19 pandemic....For many restaurants, the COVID-19 pandemic will be the greatest challenge they will ever face."
It is not yet known if any local outlets of California Pizza Kitchen could close because of the bankruptcy filing; currently, locations can be found at the Prudential Center in Boston's Back Bay as well as in Braintree, Lynnfield, Natick, and Wellesley. The website for the chain is at https://order.cpk.com/
by Marc Hurwitz (Also follow us on Twitter at @hiddenboston)
[A related post from our sister site (Boston's Hidden Restaurants): List of Restaurant Closings and Openings in the Boston Area]
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Posted in: Dining Spots
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