Dave & Buster’s Facing Bankruptcy; Palisades Center Location Slated To Close Permanently
Dave & Buster’s will likely file for bankruptcy and the entertainment company plans to permanently close its Palisades Center location by the end of the year.
If Dave & Buster’s is unable to get its lenders to agree to new terms on its debt, the entertainment company says it will seek bankruptcy protection from its creditors. The WSJ reported Dave & Buster’s received waivers on some of its loans through Nov. 1, but if the company doesn’t secure additional breaks, it may file bankruptcy, according to a filing with the Securities and Exchange Commission. Dave & Buster’s revenue plunged 85% to $50.8 million during the second quarter compared to last year.
Worries over bankruptcy has sent Dave & Buster’s stock price tumbling.
Read More at the Rockland Business Journal
