Tuesday, November 5, 2024
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CPK

franchise developmentNewsrestaurants

California Pizza Kitchen Opens New Location at LAX

by Katie Lee

Costa Mesa, Calif. — California Pizza Kitchen (CPK), the creator of California-style pizza, has opened a new franchise location at Los Angeles International Airport (LAX). The opening marks the brand’s second location within the airport as CPK continues to expand across U.S. markets. Located within Terminal 6 at LAX, the new restaurant is owned and operated by Greg Plummer, CEO and managing partner of Concord Collective, a minority-owned airport concession operator. “We are thrilled to partner with Concord Collective to provide a fresh, healthy, alternative dining option for the most …

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franchise developmentNewsrestaurants

California Pizza Kitchen Signs 2 International Development Agreements

by Katie Lee

Costa Mesa, Calif. — California Pizza Kitchen has signed two new international franchise agreements and plans to open seven international restaurants and two airport locations by year-end. These milestones follow the brand’s development momentum last year that included the launch of its domestic franchise program in December 2021. Recently signed international deals include agreements in Costa Rica and Chile, bringing the brand’s locations to approximately 50 overseas restaurants. Additionally, new locations are set to open in India; Chile; Costa Rica; Alberta, Canada; as well as in the Santiago, Chile, and …

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franchise developmentNewsrestaurants

California Pizza Kitchen Exits Chapter 11, Plans to Expand Footprint

by Katie Lee

Los Angeles — California Pizza Kitchen (CPK) has successfully completed its financial restructuring process and emerged from Chapter 11. CPK completed a debt-for-equity transaction and now has a substantially reduced debt load and increased liquidity. Upon emergence, the company eliminated more than $220 million of existing funded debt from its capital structure. The company had filed for bankruptcy in July 2020 with plans to close 200 stores. CPK completed its restructuring with the full support of its creditors and previous equity holders. Looking ahead, the company is focused on expanding …

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California Pizza Kitchen Files for Chapter 11 Bankruptcy

by Katie Lee

Playa Vista, Calif. — California Pizza Kitchen (CPK) is the latest fast-casual restaurant chain to file for bankruptcy protection due to strain brought on by the coronavirus (COVID-19) pandemic. The company filed for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the Southern District of Texas on July 30, 2020 in order to “close unprofitable locations, reduce its long term debt load and quickly emerge from bankruptcy as a much stronger company,” according to the filing. The Playa Vista, Calif.-based company did not release a list detailing which …

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