That is according to a statement from CPK.
“Due to the ongoing COVID-19 pandemic and related lease challenges with our landlords, we regret to inform you that we have closed this CPK restaurant. We look forward to welcoming you at our other locations and invite you to continue checking CPK.com for updates,” reads the statement.
Jim Hyatt, CEO of CPK, sent a letter to employees on July 30 explaining the company’s Chapter 11 filing:
“Earlier today, we announced that CPK has entered into a restructuring support agreement with our senior lenders that will equitize the vast majority of our long term debt. In order to implement this agreement, we filed for voluntary Chapter 11 protection in the U.S. Bankruptcy Court for the Southern District of Texas,” reads the letter. “The restructuring agreement includes a commitment for $46.8 million in new financing which will enable ongoing operation of CPK restaurants. This proactive filing will allow us the ability to reduce our long term debt load and emerge as a much stronger company. We anticipate a short stay in Chapter 11 and expect to progress on an expedited timeline - our goal is to complete the Chapter 11 process in under three months.”
Laurel Park Place mall is situated on the corner of Newburgh and 6 Mile roads in Livonia.
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