Bankrupt Chuck E. Cheese Parent Wants to Shred 7 Billion Tickets

Chuck E. Cheese’s parent company asked a bankruptcy court to approve settlements to destroy 7 billion paper Prize Tickets that have built up in the company’s supply chain as a result of the Covid-19 pandemic.

CEC Entertainment Inc.'s vendors now hold “enough tickets to fill approximately 65 forty-foot cargo shipping containers,” according to CEC’s emergency motion filed Monday with the U.S. Bankruptcy Court for the Southern District of Texas.

It will cost $2.28 million to destroy the tickets, or $1 million less than CEC would have paid if the Prize Tickets were cycled through the entire supply chain, James A. ...