Dave & Buster’s Permanently Laying Off 211 Employees in Region
Fear of bankruptcy and the sudden layoffs of New York employees has sent Dave & Buster's stock price tumbling.
If your business model consists of people gathering inside together to eat, drink and play games, 2020 has been a brutal year. That's what Dave & Buster's is coming to terms with after reporting that their sales have fallen 85% this quarter. The restaurant/arcade franchise currently has over 130 locations nationwide, with several surrounding the Hudson Valley.
At the beginning of the pandemic, Dave & Buster's locations at the Palisades Mall in Nyack and Crossgates Mall in Albany were forced to close and employees were issued temporary layoffs. Those restaurants remain closed, and this week it was announced that layoffs will now become permanent. According to a filing with New York State, 90 employees will be terminated at the Albany location and 121 people will be let go in Nyack.
Dave & Buster's says that the temporary layoffs which began in the beginning of March will become permanent on December 8. The Wall Street Journal says the company may have to file for bankruptcy if they can't secure a lender deal. It's unclear what that scenario would mean for the future of the Dave & Buster's locations in our region.