PALM DESERT, CA — California Pizza Kitchen announced Thursday it is filing for voluntary Chapter 11 protection in the U.S. Bankruptcy Court for the Southern District of Texas, but there are no plans to close the Palm Desert location.
"CPK is open for business — take out, delivery, third party and select dining room and patio locations — and we will continue to operate in ordinary course throughout the restructuring process," CPK CEO Jim Hyatt said in a news release. "Prior to the filing, CPK closed some restaurants in the United States due to the impact of the COVID-19 pandemic and lease-related challenges with our landlords. We do not have plans to close any additional restaurants at this time."
The restructuring agreement includes a commitment for $46.8 million in new financing which will enable ongoing operation of CPK restaurants, Hyatt added.
"This proactive filing will allow us the ability to reduce our long term debt load and emerge as a much stronger company," he said. "We appreciate your support and look forward to delivering the same innovative, California-inspired cuisine we've been serving for over 35 years at a restaurant near you."
CPK's first restaurant opened in Beverly Hills in 1985.
Other Riverside County CPK locations include Riverside and Temecula, both of which remain open.