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Cheesecake Factory Tells Landlords It Can't Pay April Rent

  • Eater, Thursday, March 26, 2020 9:18 PM
The Cheesecake Factory is one of hundreds of businesses affected by shelter-in-place orders that are keeping patrons away. Many locations are located in now-closed malls. The popular sit-down restaurant chain says it will not be able to make upcoming rent payments for any of its storefronts on April 1. The Calabasas Hills-based company informed all of its landlords in a letter dated March 18 that a severe decline in restaurant traffic has decreased its cash flow and “inflicted a tremendous financial blow” to business, according to the letter obtained by Eater.

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