January 23, 2022

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This When-Preferred Food items and Entertainment Chain Just Shut Down Its Remaining Areas

2 min read

Immediately after a lot more than two a long time in business, which were being riddled with various bankruptcies and key losses, the enjoyment chain GameWorks has thrown in the towel and introduced the closure of its six remaining places. The news was posted on the firm’s website and social media accounts on Christmas Eve, according to a number of field shops.

GameWorks venues had been dotted throughout Chicago, Cincinnati, Denver, Las Vegas, Minneapolis, Seattle, and San Francisco (though that area went by the identify Tabletop Faucet Household) and presented on-website gaming in the vein of much larger arcade-and-foods opponents like Dave&Buster’s. Presenting bowling, billiards, and arcade games due to the fact 1997, as very well as a complete menu and bar, the chain was at the time a well-known destination for indoor leisure and on-premise eating. But its business enterprise was successfully obliterated by the pandemic when it was forced to stop operations at all its venues for months.

Associated: 7 Cafe Chain Bankruptcies That Shook the Marketplace in 2021

But the chain experienced been battling extensive in advance of March 2020 rolled around. It was started in 1996 as a joint venture amongst the gaming corporation Sega and animation studio DreamWorks, a subsidiary of Common Shots. The notion was to make an unmatched gaming spot with hundreds of match options and a fun, aggressive ambiance for visitors. At the time of its launch, Steven Spielberg, who was creatively concerned with the strategy, claimed: “GameWorks is about entertaining, pleasure, competition and bringing folks jointly. It is also about escape, journey, and connecting. It gives just about every person a chance to confirm he or she is a star.”

But only four yrs later on, DreamWorks bowed out of the undertaking and marketed its part of the chain. In 2004, it filed for its 1st personal bankruptcy and turned totally owned by Sega. Soon after altering possession a number of a lot more occasions and submitting for Chapter 11 bankruptcy again in 2010, the chain by no means truly regained its footing. In accordance to FSR Magazine, its 2020 IPO filing showed it had been on a downward spiral considering that 2017, getting rid of a overall of $28.9 million in the three-yr period of time. The pandemic was simply the previous straw for the chain that at the time wanted to be the adult Chuck E Cheese. At the peak of its acceptance, GameWorks had 15 places.

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