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Stock impact report

Popular family restaurant chain files for bankruptcy [Yahoo! Finance]

Dave & Buster's Entertainment, Inc. (PLAY) 
Last dave & buster's entertainment, inc. earnings: 4/2 04:33 pm Check Earnings Report
US:NASDAQ Investor Relations: dave.com
Company Research Source: Yahoo! Finance
The company entered court protection in Delaware on Sept. 8 with about $143 million in debt and liabilities that could reach $500 million. At its height, Pinstripes ran 18 restaurants. Just eight are still open. The concept, built around made-from-scratch Italian food alongside bocce courts and bowling lanes, was positioned as an alternative to arcade-driven rivals like Dave & Buster's and Chuck E. Cheese . But rising costs and thinning traffic left the company short on cash, forcing store closures and ultimately the bankruptcy filing. Pinstripes plans to sell its assets to its lender, Silverview, under a prearranged deal. The bid is valued at roughly $16.6 million, made up of a $15 million credit bid and $1.6 million in cash, with Silverview also taking on certain liabilities. The firm has agreed to provide $3.8 million in financing to keep the business operating during the case. “This proposed timeline ensures sufficient time to effectuate a value-maximizing transaction while Show less Read more
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