One of the most popular full-service restaurant chains in the United States has made a stunning announcement as the restaurant industry continues to reel from the Coronavirus crisis.
According to an article from Eater, The Cheesecake Factory states that it will not be able to pay the rents for any of its outlets on April 1 because the serious dropoff in business has "inflicted a tremendous financial blow" to the company. The California-based chain has sent letters to its landlords explaining this, saying that "we do not take this action or make this decision lightly,and while we hope to resume our rent payments as soon as reasonably possible, we simply cannot predict the extent or the duration of the current crisis. We are continuing to evaluate the implications of this situation on our business and we realize the impact this action will have on our land." Eater mentions that chains affiliated with The Cheesecake Factory, including North Italia and RockSugar, will not be paying rents for April as well.
The Cheesecake Factory, which started out in 1972, operates just under 300 restaurants throughout the country, including eight in the Greater Boston area. Its website can be found at https://www.thecheesecakefactory.com/
by Marc Hurwitz (Also follow us on Twitter at @hiddenboston)
[A related post from our sister site (Boston's Hidden Restaurants): List of Restaurant Closings and Openings in the Boston Area]
