UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 10-Q

(Mark One)

[X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934.

For the quarterly period ended April 3, 2005

OR

[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934.

For the transition period from __________ to __________

Commission file number 0-22639

CHAMPPS ENTERTAINMENT, INC.
(Exact name of registrant as specified in its charter)


Delaware (State or other jurisdiction of incorporation or organization)	04-3370491 (I.R.S.Employer Identification No.)
10375 Park Meadows Drive, Suite 560, Littleton, Colorado (Address of principal executive offices)	80124 (Zip Code)

(303) 804-1333
(Registrant’s telephone number, including area code)

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or
15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that
the registrant was required to file such reports), and (2) has been subject to such filing requirements for the
past 90 days. Yes X No __

Indicate by check mark whether the registrant is an accelerated filer
(as defined in Rule 12b-2 of the Exchange Act). Yes X No __

Number of shares of Common Stock, $.01 par value, outstanding at May 10, 2005:
12,936,988 (excluding 471,588 shares held in our treasury).

CHAMPPS ENTERTAINMENT, INC.

INDEX

PART I – FINANCIAL INFORMATION


ITEM 1. ITEM 2. ITEM 3. ITEM 4.	Financial Statements: Unaudited Consolidated Balance Sheets as of April 3, 2005 and June 27, 2004 (Restated) Unaudited Consolidated Statements of Operations - Three and Nine Months Ended April 3, 2005 and March 28, 2004 (Restated) Unaudited Consolidated Statement of Shareholders' Equity and Comprehensive Income Nine Months Ended April 3, 2005 Unaudited Consolidated Statements of Cash Flows – Nine Monhts Ended April 3, 2005 and March 28, 2004 (Restated) Notes to Unaudited Consolidated Financial Statements – Three and Nine Months Ended April 3, 2005 and March 28, 2004 (Restated) Management’s Discussion and Analysis of Financial Condition and Results of Operations Quantitative and Qualitative Disclosures about Market Risk Controls and Procedures	1 2 3 4 5 20 37 37

PART II – OTHER INFORMATION


ITEM 1. ITEM 2. ITEM 3. ITEM 4. ITEM 5. ITEM 6.	Legal Proceedings Unregistered Sales of Equity Securities and Use of Proceeds Defaults upon Senior Securities Submission of Matters to a Vote of Security Holders Other Information Exhibits	38 38 38 38 38 38

PART I – FINANCIAL INFORMATION

ITEM 1. Financial Statements

CHAMPPS ENTERTAINMENT, INC.
CONSOLIDATED BALANCE SHEETS
As of April 3, 2005 and June 27, 2004 (Restated – Note 3)
(In thousands except share data)
(Unaudited)

	April 3, 2005			June 27, 2004
				Restated - Note 3
ASSETS
Current assets:
Cash and cash equivalents	$	2,406		$	1,449
Restricted cash		--			101
Accounts receivable		2,826			3,046
Inventories		4,360			4,394
Prepaid expenses and other current assets (Note 8)		3,674			1,782
Deferred tax assets		1,168			2,825

Total current assets		14,434			13,597
Property and equipment, net		85,135			88,955
Goodwill		5,069			5,069
Deferred tax assets		27,782			23,547
Other assets, net (Note 9)		2,637			2,581

Total assets	$	135,057		$	133,749

LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
Accounts payable	$	3,843		$	4,315
Accrued expenses (Notes 5 and 10)		10,573			9,891
Current portion of long-term debt (Note 7)		163			942

Total current liabilities		14,579			15,148
Long-term debt, net of current portion (Note 7)		15,456			17,621
Other long-term liabilities (Notes 5 and 10)		29,257			25,972

Total liabilities		59,292			58,741

Commitments and contingencies (Note 5)
Shareholders' equity
Preferred stock ($.01 par value per share; authorized 5,000,000 shares;
none issued)		--			--
Common stock ($.01 par value per share; authorized 30,000,000
shares; 13,401,244 and 13,285,253 shares issued at April 3, 2005
and June 27, 2004, respectively)		134			133
Additional paid-in capital		91,100			90,393
Accumulated deficit		(11,886	)		(12,159	)
Accumulated other comprehensive income		--			224
Treasury stock, at cost (471,588 shares)		(3,583	)		(3,583	)

Total shareholders' equity		75,765			75,008

Total liabilities and shareholders' equity	$	135,057		$	133,749

See accompanying notes to unaudited consolidated financial statements.

CHAMPPS ENTERTAINMENT, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
Three and Nine Months Ended April 3, 2005 and March 28, 2004(Restated – Note 3)
(In thousands except per share data)
(Unaudited)

	Three Months Ended					Nine Months Ended
	April 3, 2005			March 28, 2004		April 3, 2005			March 28, 2004
				Restated - Note 3					Restated - Note 3
Revenue
Sales	$	55,481		$	54,017	$	168,474		$	157,431
Franchising and royalty, net		150			148		437			430

Total revenue		55,631			54,165		168,911			157,861

Costs and expenses
Cost of sales and operating expenses:
Product costs		15,357			14,933		46,816			43,816
Labor costs		17,363			17,154		51,971			50,215
Other operating expenses		9,628			8,393		28,015			24,356
Occupancy		5,377			5,061		15,812			14,652
Pre-opening expenses		340			45		984			1,640

Total cost of sales and operating expenses:		48,065			45,586		143,598			134,679

Depreciation and amortization		2,857			2,551		8,320			7,230
General and administrative expenses		3,423			3,296		9,679			8,803
Severance (Note 11)		547			--		547			--
Impairment charges (Note 2)		6,567			--		6,567			--
Other (income) expense		26			63		(95	)		146

Income (loss) from operations		(5,854	)		2,669		295			7,003
Other (income) expense:
Interest expense and income, net		343			602		1,100			1,750
Expenses related to predecessor companies		50			54		315			259
Debt extinguishment costs		-			4		-			4

Income before income taxes		(6,247	)		2,009		(1,120	)		4,990
Income tax expense (benefit)(Note 12)		(2,675	)		395		(1,393	)		1,098

Net income (loss)	$	(3,572	)	$	1,614	$	273		$	3,892

Basic income (loss) per share (Note 4):		(0.28	)	$	0.13	$	0.02		$	0.30
Diluted income (loss) per share (Note 4):		(0.28	)	$	0.12	$	0.02		$	0.30
Basic weighted average shares outstanding		12,888			12,799		12,856			12,787
Diluted average shares outstanding		12,888			13,082		13,082			12,961

See accompanying notes to unaudited consolidated financial statements.

CHAMPPS ENTERTAINMENT, INC.
CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY AND COMPREHENSIVE INCOME
Nine Months Ended April 3, 2005
(In thousands except share data)
(Unaudited)

	Common Stock				Additional Paid-in		Accum.			Accum. Other Compre- hensive			Treasury Stock					Total Share- holders'
	Shares		Amount		Capital		Deficit			Income			Shares		Amount			Equity
Balance as of June 27, 2004
as restated - Note 2		13,285,253		133		90,393		(12,159	)		224			471,588		(3,583	)		75,008
Net income		-		-		-		273			-			-		-			273
Reclassification adjustment for the
gain on sale of securities		-		-		-		-			(224	)		-		-			(224	)
Common shares issued		115,991		1		707		-			-			-		-			708

Balance as of April 3, 2005		13,401,244	$	134	$	91,100	$	(11,886	)	$	-			471,588	$	(3,583	)	$	75,765