December 3, 2022

Eclipse Festival

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This Once-Preferred Foodstuff and Entertainment Chain Just Shut Down Its Last Places

Immediately after much more than two a long time in small business, which were riddled with several bankruptcies and key losses, the amusement chain GameWorks has thrown in the towel and introduced the closure of its six remaining areas. The information was posted on the company’s website and social media accounts on Christmas Eve, according to several business outlets.

GameWorks venues have been dotted across Chicago, Cincinnati, Denver, Las Vegas, Minneapolis, Seattle, and San Francisco (whilst that area went by the identify Tabletop Faucet Residence) and furnished on-web site gaming in the vein of bigger arcade-and-foodstuff competition like Dave&Buster’s. Providing bowling, billiards, and arcade game titles considering that 1997, as effectively as a whole menu and bar, the chain was at the time a common vacation spot for indoor enjoyment and on-premise dining. But its business enterprise was proficiently obliterated by the pandemic when it was pressured to stop operations at all its venues for months.

Associated: 7 Restaurant Chain Bankruptcies That Shook the Industry in 2021

But the chain had been struggling long before March 2020 rolled all around. It was launched in 1996 as a joint enterprise between the gaming business Sega and animation studio DreamWorks, a subsidiary of Common Pics. The notion was to develop an unrivaled gaming spot with hundreds of activity choices and a enjoyment, aggressive environment for friends. At the time of its launch, Steven Spielberg, who was creatively involved with the concept, claimed: “GameWorks is about fun, excitement, opposition and bringing people today collectively. It is also about escape, experience, and connecting. It gives every person a chance to establish he or she is a star.”

But only 4 a long time later on, DreamWorks bowed out of the undertaking and offered its portion of the chain. In 2004, it submitted for its very first individual bankruptcy and turned fully owned by Sega. Right after altering possession many much more times and submitting for Chapter 11 personal bankruptcy yet again in 2010, the chain in no way genuinely regained its footing. According to FSR Magazine, its 2020 IPO submitting confirmed it experienced been on a downward spiral because 2017, losing a full of $28.9 million in the a few-yr time period. The pandemic was merely the final straw for the chain that once desired to be the grownup Chuck E Cheese. At the peak of its level of popularity, GameWorks experienced 15 locations.

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