Chuck E. Cheese asking to spend $2 million to destroy 7 billion prize tickets

Restaurant and arcade chain Chuck E. Cheese, which filed for bankruptcy earlier this year, is asking a judge for permission to spend $2.3 million in order to destroy a pile of 7 billion prize tickets.

Because the chain’s parent company filed for bankruptcy earlier this year, the company needs permission to spend any money, CNN reported.

Attorneys for the pizza chain said it’s better to pay and destroy them rather than risk the tickets, which are worth about $9 million in prizes, falling into the hands of the public.

The ticket, emblazoned with the Chuck E. Cheese rat logo, were printed in June before the bankruptcy filing and never delivered because the company had not yet paid for them.

The arcade was already shifting to an electronic ticket system before the coronavirus pandemic struck. The move was hastened to provide more contactless service. However, the rapid shift left the company with a mountain of paper tickets that are no longer needed or wanted.

Bankruptcy court Judge Marvin Isgur is expected to rule on the motion next week.

Cox Media Group