Los Angeles — California Pizza Kitchen (CPK) has appointed Judd Tirnauer as executive vice president and chief financial officer. With over 25 years of experience mainly in the restaurant and retail business, including over 10 years in the CFO role, Tirnauer will lead CPK’s financial restructuring strategy, focus on growth opportunities and oversee the accounting and finance teams. “CPK is proud to welcome Judd to the team,” says Jim Hyatt, CEO of CPK. “With his proven track record in finance with both public and private equity brands, we are confident …
Jim Hyatt
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 …
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 …
Los Angeles — California Pizza Kitchen (CPK) has appointed Scott Hargrove as executive vice president and global chief marketing officer. Since joining CPK earlier this year, Hargrove is leading marketing and growth efforts of the 240+ unit worldwide restaurant brand including brand and performance marketing, culinary innovation, social media, loyalty, communications and community engagement. Along with recent strategic team additions in data insights and digital, Hargrove’s role will be instrumental in delivering a new era of guest experience at CPK, driving growth through amplified brand building and digital-based marketing that …