California Pizza Kitchen files for bankruptcy

California Pizza Kitchen has filed for Chapter 11 bankruptcy protection, as the chain has been unable to surmount the challenges posed by a steep drop in sit-down dining due to the coronavirus pandemic. The Los Angeles-based restaurant chain said it has entered into a restructuring agreement with lenders that will allow the company to close unprofitable locations, reduce its long-term debt load, and “quickly emerge from bankruptcy as a much stronger company.” The agreement includes $46.8 million…