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Dave & Buster’s Reports 85 Percent Drop in Quarterly Revenue, Flirts With Bankruptcy

Dave-&-Buster's-Daly-City-California

Pictured is a Dave & Buster's location at Seramonte Mall in Daly City, Calif. The Dallas-based entertainment chain has been hit hard by COVID-19, fueling speculation that bankruptcy filings may be forthcoming.

DALLAS — Dave & Buster’s (NASDAQ: PLAY) reported an 85 percent drop in total revenue for the second quarter relative to that period a year ago, prompting several media organizations, including The Wall Street Journal, to report that bankruptcy filings may be imminent. Comparable store sales decreased by 87 percent during the second quarter, which saw the Dallas-based entertainment chain gradually reopen its venues. About 90 of Dave & Buster’s 137 locations are currently open for business across 27 states. Multiple news outlets, including The New York Post, have also reported that Dave & Buster’s could soon be issuing a massive round of layoffs that could affect more than 2,000 employees. The company’s stock price opened at $15.68 per share on Monday, Sept. 21, down from $41.35 per share a year ago.

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