took a 6.3 percent holding.ĭave & Busters and other eatertainment brands have faced especially difficult challenges during the pandemic because of their operating structure. The company noted in its quarterly review it was in discussions with lenders and “outside debt and equity providers” to amend its credit facility and “supplement its liquidity.” In January, Dave & Buster's said private-equity firm KKR & Co. The deal could result in a buyout firm grabbing a significant stake in Dave & Buster’s, CNBC said. The chain is exploring a form of investment known as PIPE, or private investment in public equity as it searches for financing options. Dave & Busters is spending roughly $6.5 million per week, which includes $3.3 million in rent and occupancy expenses and $3.2 million in operating expenses and G&A.ĬNBC also reported Friday that Dave & Buster’s is in talks with private-equity firms about a potential stake sale, according to people familiar with the matter. It’s working with landlords and vendors to find alternative payment options.

STAY UP TO DATE WITH OUR CORONAVIRUS LANDING PAGE “While the aggressive actions we have taken are extremely difficult, we believe they are necessary for the long-term health of the company and will help position us to safely reopen our stores and emerge on the other side of this crisis.” “Our entire leadership team is focused on navigating through this unprecedented environment,” CEO Brian Jenkins said during the brand’s Q4 earnings call. Compensation of the execution team was reduced by 50 percent and the board suspended their compensation for the rest of the year. Store management and corporate staff were reduced nearly 90 percent. Dave & Busters announced April 1 that it was forced to temporarily close all 137 locations and furlough more than 15,000 employees due to the COVID-19 pandemic.

Dave n buster richmobd