PLAY - Can an Activist Investor Save Dave & Buster's?
Dave & Buster's (NASDAQ: PLAY) was arguably hurt by the COVID-19 pandemic more than many other restaurants, because as an entertainment-focused chain, the communal nature of its atmosphere didn't jibe well with today's social distancing norms.
While the advent of a vaccine for coronavirus does hold out hope for a recovery , Dave & Buster's was an ailing restaurant before the outbreak began, as increased competition in the so-called "eatertainment" industry caused same-store sales to decline.
That attracted several activist investors to its stock, one of which it recently appointed to its board of directors. Yet in a post-pandemic, socially distanced world , can even an activist investor turn Dave & Buster's around?
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Can an Activist Investor Save Dave & Buster's?