As RePlay shared in March, Dave & Buster’s shut down all of its 137 stores. Now, according to the Dallas Business Journal, management and corporate staff have been reduced by nearly 90 percent and more than 15,000 hourly team members have been placed on temporary furlough.
“We cannot predict how soon we will be able to reopen our stores, and our ability to reopen will depend in part on the actions of a number of governmental bodies over which we have no control,” the company said in a regulatory filing. “Moreover, once restrictions are lifted, it is unclear how quickly customers will return to our stores, which may be a function of continued concerns over safety and/or depressed consumer sentiment due to adverse economic conditions, including job losses.”
D&B also recently reported its fourth quarter and full year 2019 results. In that notice, CEO Brian Jenkins said: “In recent weeks, the COVID-19 pandemic has created challenges unlike anything our company, industry, or the U.S. economy has previously experienced, resulting in the temporary closure of all of our stores. We have thoughtfully and quickly implemented a comprehensive plan to help mitigate the impact of this pandemic, and we are now working to enhance liquidity and preserve store restart capabilities so that we can safely reopen as soon as local conditions allow. Our first priority remains the health and safety of our team members, guests, and each of the communities in which we operate. Our hearts go out to all of our team members and guests who are enduring so much through this crisis.”
