The Cheesecake Factory has notified its landlords that it will not be able to make any rent payments in April, Eater Los Angeles reports.
In a letter dated March 18, Cheesecake Factory Chairman and CEO David Overton said he was "asking for your patience, and frankly, your help." Because of the coronavirus pandemic, several Cheesecake Factories have had to close or can only serve takeout and delivery, and as such the "severe decrease in restaurant traffic has severely decreased our cash flow and inflicted a tremendous financial blow to our business," Overton said. The company hopes to "resume our rent payments as soon as reasonably possible" but "cannot predict the extent or the duration of the current crisis."
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