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Chuck E. Cheese wants to destroy 7 billion prize tickets

September 16, 2020. Summarized by summa-bot.

This might qualify as a kid's wildest dream: a mountain of 7 billion Chuck E. Cheese prize tickets.

New York (CNN Business)This might qualify as a kid's wildest dream: a mountain of 7 billion Chuck E.

Cheese prize tickets.

And enough to cash in for $9 million in Chuck E.

Cheese prizes.

The chain, whose parent company filed for bankruptcy earlier this year, this week asked a bankruptcy court judge for permission to spend more than $2 million to purchase and destroy the tickets, which were printed before the June bankruptcy filing but never delivered.

Even before the pandemic, the chain was shifting to eTickets, which reduce wait times in chain's 612 locations and cut overall costs associated with the tickets.

But the rapid shift left its suppliers stuck with a mountain of 7 billion printed tickets that Chuck E.

Chuck E.

Cheese's lawyers argue that it is better to pay to destroy tickets already produced, than to risk having them fall into the hands of the general public.

In its filing the company said the $2. 3 million it proposes to spend on the tickets is "a cost which is far lower than the cost to the [company] should these Prize Tickets be circulated to the general public and presented . . .

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