LA’s California Pizza Kitchen Now in Bankruptcy Because of Coronavirus | Eater LA

"Based in Playa Vista, this Los Angeles–born casual restaurant chain—with more than 250 locations including many at airports and high-traffic sites like the Hollywood & Highland complex—has filed for Chapter 11 bankruptcy in Texas amid the COVID-19–driven economic downturn. The filing outlines restructuring efforts to shutter unprofitable locations and reduce corporate debt, including a plan to seek nearly $50 million in new financing, but does not necessarily mean permanent closure of all sites. Company documents report only $13.5 million in cash on hand, roughly four months of unpaid rent at most locations, and numerous landlord default notices and lawsuits. Operating for over 35 years and known for California-inspired, inventive toppings—most famously a widely imitated barbecue chicken pizza developed by chef Ed LaDou—its pies are also sold in frozen grocery aisles nationwide. CEO Jim Hyatt said lender support demonstrates a commitment to the brand’s ongoing viability while the company works to preserve its signature menu." - Farley Elliott